Sandvik (OTCMKTS:SDVKY) Hits New 12-Month High – Here’s What Happened

Sandvik AB (OTCMKTS:SDVKY) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $44.09 and last traded at $43.9550, with a volume of 3001 shares trading hands. The stock had previously closed at $42.3520.

Analysts Set New Price Targets

Several research analysts have recently commented on SDVKY shares. Barclays restated an “overweight” rating on shares of Sandvik in a research report on Wednesday. Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Jefferies Financial Group lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Sandvik in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Sandvik Stock Performance

The company has a current ratio of 1.94, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $55.34 billion, a P/E ratio of 36.46, a price-to-earnings-growth ratio of 1.89 and a beta of 1.51. The company has a 50-day moving average price of $37.68 and a 200 day moving average price of $31.67.

Sandvik (OTCMKTS:SDVKY) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Sandvik had a return on equity of 16.94% and a net margin of 12.16%.The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.38 billion. On average, research analysts forecast that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC boosted its holdings in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,704 shares of the industrial products company’s stock after purchasing an additional 1,298 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (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.