Sandvik AB (OTCMKTS:SDVKY) Receives Average Rating of “Hold” from Analysts

Sandvik AB (OTCMKTS:SDVKY) has earned a consensus rating of “Hold” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company.

SDVKY has been the topic of several research analyst reports. Kepler Capital Markets downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th.

Sandvik Stock Up 2.4%

SDVKY opened at $41.72 on Wednesday. The stock has a market cap of $52.33 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 1.17 and a beta of 1.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.64. The firm’s fifty day moving average is $38.89 and its 200 day moving average is $40.11. Sandvik has a fifty-two week low of $24.89 and a fifty-two week high of $44.53.

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC increased its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% in 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 at the end of the most recent quarter. Institutional investors and hedge funds 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.