Sandvik AB (publ) (OTCMKTS:SDVKY) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a note issued to investors on Thursday, Zacks.com reports.
According to Zacks, "Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. "
A number of other brokerages have also recently commented on SDVKY. Morgan Stanley reissued an "equal weight" rating on shares of Sandvik AB (publ) in a research note on Monday. assumed coverage on Sandvik AB (publ) in a research note on Friday, June 18th. They issued a "buy" rating for the company. Citigroup assumed coverage on Sandvik AB (publ) in a report on Friday, June 18th. They issued a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Sandvik AB (publ) in a report on Wednesday, April 21st. Finally, Credit Suisse Group restated an "outperform" rating on shares of Sandvik AB (publ) in a report on Wednesday, April 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of "Hold" and an average price target of $29.00.
Shares of SDVKY stock opened at $25.82 on Thursday. The firm has a market capitalization of $32.39 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 1.20 and a beta of 1.22. The company has a 50-day moving average of $26.39. The company has a current ratio of 2.37, a quick ratio of 1.55 and a debt-to-equity ratio of 0.27. Sandvik AB has a 1-year low of $17.72 and a 1-year high of $29.04.
Sandvik AB (publ) (OTCMKTS:SDVKY) last released its earnings results on Thursday, July 15th. The industrial products company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Sandvik AB (publ) had a return on equity of 18.91% and a net margin of 14.24%. As a group, equities analysts forecast that Sandvik AB will post 1.31 earnings per share for the current year.
A hedge fund recently raised its stake in Sandvik AB (publ) stock. Captrust Financial Advisors increased its stake in Sandvik AB (publ) (OTCMKTS:SDVKY) by 102.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,923 shares of the industrial products company's stock after purchasing an additional 4,513 shares during the quarter. Captrust Financial Advisors' holdings in Sandvik AB (publ) were worth $244,000 at the end of the most recent quarter. Institutional investors own 0.39% of the company's stock.
About Sandvik AB (publ)
Sandvik AB (publ) operates as an engineering company in the areas of mining and rock excavation, metal cutting, and materials technology worldwide. It offers metal-cutting tools and tooling systems, including boring, drilling, milling, reaming, and turning tools. The company also provides mining and construction equipment and tools, such as crushers and screens, underground drill rigs and bolters, surface drill rigs, underground loaders and trucks, mechanical cutting equipment, rock tools and drills, and parts and services.
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