SANDVIK AB/ADR (OTCMKTS:SDVKY) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of SANDVIK AB/ADR (OTCMKTS:SDVKY) from a sell rating to a buy rating in a research report sent to investors on Tuesday, Zacks.com reports. They currently have $20.00 target price on the industrial products company’s stock.
According to Zacks, “Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. “
Separately, ValuEngine raised shares of WPP from a sell rating to a hold rating in a report on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $20.00.
SANDVIK AB/ADR (OTCMKTS:SDVKY) last announced its quarterly earnings results on Thursday, April 18th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). SANDVIK AB/ADR had a net margin of 12.90% and a return on equity of 23.82%. The firm had revenue of $2.73 billion for the quarter. On average, equities analysts expect that SANDVIK AB/ADR will post 1.2 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Scout Investments Inc. boosted its holdings in shares of SANDVIK AB/ADR by 3.6% during the second quarter. Scout Investments Inc. now owns 212,125 shares of the industrial products company’s stock valued at $3,900,000 after acquiring an additional 7,402 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of SANDVIK AB/ADR by 9.0% during the first quarter. Parametric Portfolio Associates LLC now owns 1,322,376 shares of the industrial products company’s stock valued at $21,548,000 after acquiring an additional 109,485 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of SANDVIK AB/ADR by 39.9% during the first quarter. Quadrant Capital Group LLC now owns 15,533 shares of the industrial products company’s stock valued at $249,000 after acquiring an additional 4,430 shares during the period.
SANDVIK AB/ADR Company Profile
Sandvik AB (publ) operates as an engineering company in the areas of mining and rock excavation, metal cutting, and materials technology worldwide. The company offers metal-cutting tools and tooling systems, including boring, drilling, milling, reaming, and turning tools, as well as tailor made tools and inserts, and tooling systems.
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