Sandvik (OTCMKTS:SDVKY) Shares Gap Down – Time to Sell?

Sandvik AB (OTCMKTS:SDVKY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $42.20, but opened at $39.11. Sandvik shares last traded at $39.53, with a volume of 7,524 shares changing hands.

Analyst Ratings Changes

Several research firms have recently weighed in on SDVKY. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Nordea Equity Research upgraded Sandvik to a “hold” rating in a report on Wednesday, April 15th. The Goldman Sachs Group reissued a “sell” rating on shares of Sandvik in a research note on Thursday, April 9th. Finally, Citigroup cut Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sandvik currently has an average rating of “Hold”.

Sandvik Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.96. The business has a 50 day simple moving average of $40.57 and a 200-day simple moving average of $39.44. The firm has a market cap of $49.02 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 1.37 and a beta of 1.50.

Sandvik (OTCMKTS:SDVKY) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.43 billion. Sandvik had a return on equity of 16.92% and a net margin of 12.16%. Equities research analysts expect that Sandvik AB will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC lifted its position in Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,489 shares of the industrial products company’s stock after acquiring an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 at the end of the most recent reporting period. 0.74% of the stock is owned by institutional investors and hedge funds.

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.