Sandvik (OTCMKTS:SDVKY) Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Sandvik from a "hold" to a "strong-buy" rating in a report issued Monday.
• Analyst opinions remain mixed—two Strong Buy, three Buy, five Hold and one Sell—giving Sandvik an average rating of "Moderate Buy".
• In the most recent quarter Sandvik beat EPS estimates ($0.36 vs. $0.32) but missed revenue forecasts ($3.34B vs. $3.43B); the stock trades at a P/E of 32.6 with a market cap of about $51.9 billion.

Sandvik (OTCMKTS:SDVKY - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Citigroup downgraded shares of Sandvik from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Jefferies Financial Group cut shares of Sandvik from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 25th. Nordea Equity Research raised shares of Sandvik to a "hold" rating in a research note on Wednesday, April 15th. Barclays reissued an "overweight" rating on shares of Sandvik in a research note on Wednesday, February 25th. Finally, Morgan Stanley cut shares of Sandvik from an "overweight" rating to an "equal weight" rating in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Sandvik currently has an average rating of "Moderate Buy".

Sandvik Price Performance

SDVKY stock opened at $41.40 on Monday. The firm has a 50 day moving average of $40.80 and a 200-day moving average of $35.96. Sandvik has a 12-month low of $20.40 and a 12-month high of $44.53. The company has a current ratio of 1.94, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34. The company has a market cap of $51.93 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 1.45 and a beta of 1.52.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.04. Sandvik had a net margin of 12.16% and a return on equity of 17.64%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.43 billion. As a group, equities analysts expect that Sandvik will post 1.76 EPS for the current fiscal year.

Institutional Trading of Sandvik

A hedge fund recently raised its stake in Sandvik stock. Salomon & Ludwin LLC boosted its position in Sandvik AB (OTCMKTS:SDVKY - Free Report) by 3,795.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 857 shares of the industrial products company's stock after acquiring an additional 835 shares during the period. Salomon & Ludwin LLC's holdings in Sandvik were worth $25,000 at the end of the most recent reporting period. Institutional investors own 0.74% of the company's stock.

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.

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