Sandvik (OTCMKTS:SDVKY) Sets New 1-Year High - What's Next?

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $24.54 and last traded at $24.54, with a volume of 4651 shares traded. The stock had previously closed at $24.29.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SDVKY. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Sandvik in a report on Wednesday, June 25th. Barclays reaffirmed an "overweight" rating on shares of Sandvik in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy".

Sandvik Stock Performance

The business has a 50-day moving average of $22.61 and a two-hundred day moving average of $21.42. The company has a market cap of $31.23 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.65 and a beta of 1.51. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.85 and a quick ratio of 0.98.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.31. Sandvik had a return on equity of 16.66% and a net margin of 11.89%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $29.43 billion. On average, sell-side analysts predict that Sandvik AB will post 1.27 EPS for the current fiscal year.

Institutional Trading of Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC raised its stake in Sandvik AB (OTCMKTS:SDVKY - Free Report) by 3,893.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,242 shares of the industrial products company's stock after buying an additional 114,306 shares during the period. GAMMA Investing LLC's holdings in Sandvik were worth $2,478,000 as of its most recent filing with the SEC. 0.74% of the stock is currently owned by hedge funds and other institutional investors.

Sandvik Company Profile

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.