Sandvik (OTCMKTS:SDVKY) Upgraded to Strong-Buy at Zacks Research

Sandvik (OTCMKTS:SDVKY) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research report on Monday, December 8th. Barclays restated an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Rothschild Redb raised Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada restated an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. Finally, Citigroup reiterated a “buy” rating on shares of Sandvik in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy”.

Sandvik Stock Performance

Shares of OTCMKTS SDVKY opened at $32.36 on Monday. The firm has a market capitalization of $40.59 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. The company has a current ratio of 1.78, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $30.44 and a 200 day moving average of $27.03. Sandvik has a 12-month low of $16.94 and a 12-month high of $32.55.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings results on Monday, October 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $29.69 billion. Sandvik had a net margin of 12.24% and a return on equity of 16.30%. On average, research analysts anticipate that Sandvik will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Sandvik

Several large investors have recently bought and sold shares of the company. Salomon & Ludwin LLC grew its holdings in shares of Sandvik by 3,795.5% during the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock worth $25,000 after buying an additional 835 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Sandvik by 24.8% during the 3rd quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock valued at $208,000 after buying an additional 1,473 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Sandvik by 15.9% in the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock valued at $502,000 after purchasing an additional 3,030 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Sandvik by 13.9% during the first quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock worth $788,000 after buying an additional 4,562 shares during the period. 0.74% of the stock is currently owned by hedge funds and other institutional investors.

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.