Sandvik (OTCMKTS:SDVKY) Shares Gap Up – Here’s What Happened

Shares of Sandvik AB (OTCMKTS:SDVKY) gapped up before the market opened on Friday . The stock had previously closed at $37.99, but opened at $40.22. Sandvik shares last traded at $39.92, with a volume of 3,717 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SDVKY shares. Citigroup cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Zacks Research upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research report on Thursday, April 23rd. Nordea Equity Research upgraded shares of Sandvik to a “hold” rating in a research report on Wednesday, April 15th. Finally, Barclays reiterated an “overweight” rating on shares of Sandvik in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Sandvik Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.96 and a quick ratio of 1.06. The firm has a market capitalization of $50.58 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.16 and a beta of 1.50. The business’s fifty day simple moving average is $40.96 and its 200 day simple moving average is $38.15.

Sandvik (OTCMKTS:SDVKY) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. On average, research analysts forecast that Sandvik AB will post 1.76 EPS for the current year.

Institutional Investors Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC boosted its stake in Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,704 shares of the industrial products company’s stock after purchasing an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent SEC filing. 0.74% of the stock is owned by institutional investors and hedge funds.

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.