Sandvik (OTCMKTS:SDVKY) Shares Gap Up – Still a Buy?

Sandvik AB (OTCMKTS:SDVKY) gapped up prior to trading on Wednesday . The stock had previously closed at $36.01, but opened at $38.51. Sandvik shares last traded at $39.48, with a volume of 3,329 shares.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SDVKY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Monday, December 8th. Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Morgan Stanley cut shares of Sandvik from an “overweight” rating to an “equal weight” rating in a research note on Thursday, March 12th. Barclays reissued an “overweight” rating on shares of Sandvik in a report on Wednesday, February 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Sandvik in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Sandvik Stock Performance

The business’s fifty day moving average is $40.18 and its two-hundred day moving average is $33.97. The stock has a market capitalization of $49.71 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48. The company has a quick ratio of 1.02, a current ratio of 1.94 and a debt-to-equity ratio of 0.38.

Sandvik (OTCMKTS:SDVKY) last released its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Sandvik had a net margin of 12.16% and a return on equity of 16.94%. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.38 billion. As a group, research analysts anticipate that Sandvik AB will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. Salomon & Ludwin LLC boosted its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 3,795.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 857 shares of the industrial products company’s stock after buying an additional 835 shares during the period. Salomon & Ludwin LLC’s holdings in Sandvik were worth $25,000 at the end of the most recent quarter. Institutional investors own 0.74% of the company’s stock.

Sandvik Company Profile

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.