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

Shares of Sandvik AB (OTCMKTS:SDVKY) gapped up before the market opened on Wednesday . The stock had previously closed at $34.29, but opened at $35.85. Sandvik shares last traded at $35.99, with a volume of 1,637 shares.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SDVKY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Citigroup cut Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Zacks Research downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Sandvik in a report on Thursday, April 9th. Finally, Kepler Capital Markets downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Sandvik Trading Down 2.0%

The company has a quick ratio of 1.06, a current ratio of 1.96 and a debt-to-equity ratio of 0.36. The firm has a market cap of $44.13 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50. The business has a 50 day moving average of $39.84 and a 200 day moving average of $39.90.

Sandvik (OTCMKTS:SDVKY) last announced its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.43 billion. Sandvik had a net margin of 13.05% and a return on equity of 18.78%. On average, research analysts forecast that Sandvik AB will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC increased its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,489 shares of the industrial products company’s stock after acquiring an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 as of its most recent filing with the SEC. Institutional investors 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.