Zacks Investment Research Upgrades Sandvik (SDVKY) to Buy

Sandvik (OTCMKTS:SDVKY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $21.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.55% from the stock’s previous close.

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 raised shares of Sandvik from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st.

Sandvik (OTCMKTS:SDVKY) opened at $19.17 on Friday. Sandvik has a 52-week low of $12.85 and a 52-week high of $19.20. The firm has a market cap of $24,052.85, a P/E ratio of 23.67, a PEG ratio of 2.71 and a beta of 0.78. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.23 and a current ratio of 2.09.

An institutional investor recently raised its position in Sandvik stock. Parametric Portfolio Associates LLC grew its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 14.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 665,023 shares of the industrial products company’s stock after acquiring 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 reporting period. Institutional investors own 0.07% of the company’s stock.

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Sandvik Company Profile

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.

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