Sandvik (OTCMKTS:SDVKY) Hits New 52-Week High - What's Next?

Key Points

• Sandvik AB's stock reached a new 52-week high at $28.96, reflecting strong momentum with a recent trading volume of 11,552 shares.
• Wall Street analysts have raised their outlook on Sandvik, with Zacks Research upgrading its rating to strong-buy and a consensus rating of Moderate Buy among various firms.
• Despite a recent earnings report hitting estimates, Sandvik's revenue fell short of expectations, reporting $3.04 billion against a forecast of $29.43 billion.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $28.96 and last traded at $28.93, with a volume of 11552 shares changing hands. The stock had previously closed at $28.49.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Zacks Research raised Sandvik from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Sandvik in a research note on Monday, September 29th. Barclays restated an "overweight" rating on shares of Sandvik in a research report on Monday, September 8th. Citigroup restated a "buy" rating on shares of Sandvik in a research report on Tuesday, October 7th. Finally, Pareto Securities downgraded Sandvik from a "buy" rating to a "hold" rating in a report on Sunday, October 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Sandvik Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.62 and a quick ratio of 0.86. The business has a 50-day simple moving average of $26.61 and a 200 day simple moving average of $23.61. The firm has a market cap of $36.13 billion, a PE ratio of 25.72, a PEG ratio of 1.43 and a beta of 1.60.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.31 EPS for the quarter, hitting analysts' consensus estimates of $0.31. The business had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $29.43 billion. Sandvik had a return on equity of 16.54% and a net margin of 11.89%. Equities research analysts forecast that Sandvik AB will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Sandvik

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of Sandvik by 24.8% in the 3rd quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company's stock valued at $208,000 after purchasing an additional 1,473 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Sandvik by 15.9% in the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company's stock valued at $502,000 after purchasing an additional 3,030 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Sandvik by 13.9% in the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company's stock valued at $788,000 after purchasing an additional 4,562 shares during the last quarter. 0.74% of the stock is owned by 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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