SANDVIK AB/ADR (OTCMKTS:SDVKY) Upgraded at Zacks Investment Research

SANDVIK AB/ADR (OTCMKTS:SDVKY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

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 upgraded shares of SANDVIK AB/ADR from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. SANDVIK AB/ADR presently has an average rating of “Hold” and a consensus price target of $20.00.

OTCMKTS SDVKY opened at $17.90 on Tuesday. The stock has a market capitalization of $22.73 billion, a P/E ratio of 14.92, a P/E/G ratio of 2.48 and a beta of 1.32. The business has a 50 day simple moving average of $17.78 and a 200 day simple moving average of $16.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.11 and a quick ratio of 1.20. SANDVIK AB/ADR has a one year low of $13.23 and a one year high of $19.05.

SANDVIK AB/ADR (OTCMKTS:SDVKY) last issued its quarterly earnings results on Friday, October 18th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter. The firm had revenue of $2.62 billion for the quarter. SANDVIK AB/ADR had a return on equity of 23.02% and a net margin of 10.98%. Equities analysts expect that SANDVIK AB/ADR will post 1.04 earnings per share for the current year.

An institutional investor recently raised its position in SANDVIK AB/ADR stock. Parametric Portfolio Associates LLC lifted its stake in shares of SANDVIK AB/ADR (OTCMKTS:SDVKY) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,343,122 shares of the industrial products company’s stock after purchasing an additional 20,746 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.11% of SANDVIK AB/ADR worth $24,680,000 at the end of the most recent reporting period. 0.12% of the stock is owned by hedge funds and other institutional investors.

About SANDVIK AB/ADR

Sandvik AB (publ) operates as an engineering company in the areas of mining and rock excavation, metal cutting, and materials technology worldwide. The company offers metal-cutting tools and tooling systems, including boring, drilling, milling, reaming, and turning tools, as well as tailor made tools and inserts, and tooling systems.

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