Sandvik (OTCMKTS:SDVKY)'s stock had its "equal weight" rating reaffirmed by equities researchers at Barclays in a research report issued on Wednesday, The Fly reports.
A number of other analysts also recently weighed in on the company. Societe Generale restated a "buy" rating on shares of Sandvik in a research report on Tuesday, September 29th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Sandvik in a research report on Tuesday. Zacks Investment Research downgraded Sandvik from a "buy" rating to a "hold" rating in a research report on Saturday. Berenberg Bank reiterated a "buy" rating on shares of Sandvik in a research report on Friday, January 8th. Finally, HSBC downgraded Sandvik from a "buy" rating to a "hold" rating in a research report on Wednesday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company's stock. The stock has an average rating of "Buy" and a consensus target price of $20.00.
OTCMKTS:SDVKY traded up $0.73 during mid-day trading on Wednesday, reaching $26.77. The stock had a trading volume of 111,878 shares, compared to its average volume of 84,497. The firm has a 50 day moving average price of $24.10 and a two-hundred day moving average price of $20.85. The stock has a market capitalization of $33.58 billion, a P/E ratio of 50.51, a P/E/G ratio of 5.70 and a beta of 1.19. Sandvik has a one year low of $11.20 and a one year high of $26.91.
Sandvik (OTCMKTS:SDVKY) last released its earnings results on Friday, October 16th. The industrial products company reported $0.24 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.23 by $0.01. The company had revenue of $2.27 billion during the quarter. Sandvik had a return on equity of 20.42% and a net margin of 6.75%. Equities research analysts anticipate that Sandvik will post 0.83 earnings per share for the current year.
A hedge fund recently raised its stake in Sandvik stock. Colony Group LLC increased its position in Sandvik AB (OTCMKTS:SDVKY) by 24.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,753 shares of the industrial products company's stock after purchasing an additional 3,541 shares during the period. Colony Group LLC's holdings in Sandvik were worth $349,000 at the end of the most recent reporting period. Institutional investors own 0.13% of the company's stock.
Sandvik Company Profile
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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