Sandvik (OTCMKTS:SDVKY) Shares Gap Down – Here’s What Happened

Sandvik AB (OTCMKTS:SDVKY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $40.38, but opened at $38.25. Sandvik shares last traded at $38.44, with a volume of 31,399 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Barclays restated an “overweight” rating on shares of Sandvik in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Monday, December 8th. Jefferies Financial Group downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Sandvik in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Sandvik Stock Up 3.3%

The stock has a market capitalization of $51.80 billion, a PE ratio of 34.13, a P/E/G ratio of 1.71 and a beta of 1.48. The firm has a 50 day moving average of $39.13 and a two-hundred day moving average of $32.70. The company has a current ratio of 1.94, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38.

Sandvik (OTCMKTS:SDVKY) last posted its earnings results on Tuesday, January 27th. The industrial products company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Sandvik had a return on equity of 16.94% and a net margin of 12.16%. Equities research analysts anticipate that Sandvik AB will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC boosted its holdings in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,704 shares of the industrial products company’s stock after acquiring an additional 1,298 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 at the end of the most recent reporting period. 0.74% of the stock is owned by institutional investors.

Sandvik Company Profile

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.