Sandvik (OTCMKTS:SDVKY) Shares Gap Up – Should You Buy?

Sandvik AB (OTCMKTS:SDVKY)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $38.50, but opened at $40.32. Sandvik shares last traded at $40.42, with a volume of 1,982 shares traded.

Analysts Set New Price Targets

A number of research analysts have commented on SDVKY shares. Kepler Capital Markets downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Berenberg Bank upgraded shares of Sandvik to a “hold” rating in a research note on Thursday, August 27th. Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold”.

Sandvik Trading Up 2.5%

The firm’s 50 day simple moving average is $38.72 and its two-hundred day simple moving average is $39.99. The company has a quick ratio of 0.84, a current ratio of 1.64 and a debt-to-equity ratio of 0.31. The stock has a market cap of $51.19 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 1.10 and a beta of 1.52.

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC lifted its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,489 shares of the industrial products company’s stock after acquiring an additional 616 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 0.74% of the company’s stock.

About Sandvik

Sandvik (OTCMKTS: SDVKY) is a global engineering group headquartered in Sandviken, Sweden, with roots dating back to 1862 when it was founded by Göran Fredrik Göransson. The company designs, manufactures and services advanced products and solutions for the mining and construction industries, metalworking and material technology markets. Sandvik serves customers worldwide with a broad portfolio of industrial products, equipment and aftermarket services.

Sandvik’s core activities span three broad areas: metal-cutting and machining solutions, mining and rock excavation equipment, and specialty materials and components.