Zacks Investment Research Downgrades Sandvik (SDVKY) to Sell

Sandvik (OTCMKTS:SDVKY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, December 27th.

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 lowered Sandvik from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th.

Sandvik (SDVKY) opened at $19.17 on Wednesday. Sandvik has a fifty-two week low of $12.85 and a fifty-two week high of $19.20. The company has a current ratio of 2.09, a quick ratio of 1.23 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $23,902.33, a price-to-earnings ratio of 23.52, a PEG ratio of 2.69 and a beta of 0.78.

A hedge fund recently raised its stake in Sandvik stock. Parametric Portfolio Associates LLC boosted its stake in Sandvik AB (OTCMKTS:SDVKY) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 665,023 shares of the industrial products company’s stock after buying an additional 83,981 shares during the period. Parametric Portfolio Associates LLC’s holdings in Sandvik were worth $10,521,000 at the end of the most recent quarter. 0.07% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This report was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this report on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.thelincolnianonline.com/2018/01/14/sandvik-sdvky-cut-to-sell-at-zacks-investment-research-updated-updated.html.

About Sandvik

Sandvik AB (Sandvik) is an engineering company in mining and rock excavation, metal-cutting and materials technology. The Company is engaged in the developing, manufacturing and marketing processed products and services. Its segments include Sandvik Machining Solutions, Sandvik Mining and Rock Technology, Sandvik Materials Technology and Other Operations.

Get a free copy of the Zacks research report on Sandvik (SDVKY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sandvik Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandvik and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply