Zacks Research Downgrades PT United Tractors Tbk (OTCMKTS:PUTKY) to Strong Sell

PT United Tractors Tbk (OTCMKTS:PUTKY) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

PT United Tractors Tbk Trading Down 1.9%

OTCMKTS:PUTKY opened at $26.43 on Monday. The firm’s fifty day simple moving average is $26.47 and its 200 day simple moving average is $31.39. PT United Tractors Tbk has a twelve month low of $23.18 and a twelve month high of $39.00.

PT United Tractors Tbk Company Profile

PT United Tractors Tbk (OTCMKTS:PUTKY) is one of Indonesia’s leading heavy equipment distributors and mining contractors. Established in 1972 and headquartered in Jakarta, the company operates as a core subsidiary of the Astra International group. United Tractors’ primary activities encompass the distribution and sales of a wide range of construction and mining machinery, including Komatsu-branded excavators, bulldozers and haul trucks, as well as other reputable global equipment brands.

In addition to equipment sales, United Tractors has developed a substantial mining services division through its subsidiary PT Pamapersada Nusantara, which provides contract mining solutions for coal and mineral extraction projects across Indonesia.