Sandvik (OTCMKTS:SDVKY) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Sandvik (OTCMKTS:SDVKY) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on SDVKY. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research report on Monday, December 8th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sandvik in a research note on Wednesday, October 22nd. Jefferies Financial Group lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 25th. Citigroup reiterated a “buy” rating on shares of Sandvik in a report on Monday, January 12th. Finally, Barclays restated an “overweight” rating on shares of Sandvik in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Sandvik Price Performance

Sandvik stock opened at $41.78 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.94 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average is $36.08 and its 200 day moving average is $30.87. The company has a market cap of $52.41 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 1.81 and a beta of 1.51. Sandvik has a 52-week low of $16.94 and a 52-week high of $44.00.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of Sandvik by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 8,704 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 1,298 shares during the period. Salomon & Ludwin LLC increased its holdings in shares of Sandvik by 3,795.5% during the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 835 shares during the period. Finally, Yousif Capital Management LLC lifted its holdings in shares of Sandvik by 15.9% during the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock worth $502,000 after acquiring an additional 3,030 shares during the period. 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.