Sandvik (OTCMKTS:SDVKY) Hits New 52-Week High - Here's Why

Key Points

• Sandvik AB shares hit a new 52-week high, trading at $29.98 during recent trading, with a market capitalization of $37.34 billion.
• Equities analysts have mixed ratings for Sandvik, with an overall average rating of "Moderate Buy", including upgrades to "strong-buy" and downgrades to "hold" from various firms.
• The company reported earnings of $0.30 EPS, missing analysts' expectations, and had revenue of $3.10 billion in their latest quarter.

Shares of Sandvik AB (OTCMKTS:SDVKY - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $29.98 and last traded at $29.77, with a volume of 34425 shares traded. The stock had previously closed at $29.80.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Zacks Research upgraded shares of Sandvik from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Pareto Securities downgraded shares of Sandvik from a "buy" rating to a "hold" rating in a research note on Sunday, October 5th. Citigroup reissued a "buy" rating on shares of Sandvik in a research report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Sandvik in a research report on Monday, September 29th. Finally, Barclays reissued an "overweight" rating on shares of Sandvik in a research report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy".

Sandvik Trading Down 0.1%

The business's 50-day moving average is $26.96 and its two-hundred day moving average is $23.89. The company has a quick ratio of 0.86, a current ratio of 1.62 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $37.34 billion, a PE ratio of 25.45, a PEG ratio of 1.50 and a beta of 1.60.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last announced its earnings results on Monday, October 20th. The industrial products company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.02). Sandvik had a net margin of 12.24% and a return on equity of 16.56%. The business had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $29.69 billion. On average, analysts anticipate that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sandvik

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Sandvik by 88.9% in the first quarter. GAMMA Investing LLC now owns 5,546 shares of the industrial products company's stock valued at $117,000 after buying an additional 2,610 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Sandvik by 3,795.5% in the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company's stock valued at $25,000 after buying an additional 835 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Sandvik by 15.9% in the second quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company's stock valued at $502,000 after buying an additional 3,030 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Sandvik by 13.9% during the first quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company's stock worth $788,000 after acquiring an additional 4,562 shares during the period. 0.74% of the stock is owned by hedge funds and other institutional investors.

About Sandvik

Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide. The company offers mining and rock excavation equipment, including drill rigs and bolters, underground loaders and trucks, mechanical cutting equipment, rock tools and rock drills, and mining automation; rock processing equipment, such as crushers, screens, hydraulic breakers, demolition tools, and breaker booms.

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