Sandvik (OTCMKTS:SDVKY) Sets New 1-Year High - Time to Buy?

Key Points

• Sandvik AB reached a new 52-week high of $26.72, closing at $26.54 with a trading volume of 15,300 shares.
• Analysts have a consensus rating of "Moderate Buy" for Sandvik, with an "overweight" rating from Barclays and a "buy" rating from Deutsche Bank.
• Sandvik's recent earnings report showed $0.31 earnings per share, meeting analysts' expectations, with a revenue of $3.04 billion for the quarter.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $26.72 and last traded at $26.54, with a volume of 15300 shares changing hands. The stock had previously closed at $26.41.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SDVKY. Barclays reaffirmed an "overweight" rating on shares of Sandvik in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Sandvik in a report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sandvik has a consensus rating of "Moderate Buy".

Sandvik Trading Up 0.5%

The business has a 50-day moving average price of $24.87 and a two-hundred day moving average price of $22.69. The stock has a market capitalization of $33.29 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.79 and a beta of 1.56. The company has a current ratio of 1.62, a quick ratio of 0.86 and a debt-to-equity ratio of 0.42.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last released its earnings results on Wednesday, July 16th. The industrial products company reported $0.31 earnings per share for the quarter, meeting analysts' consensus estimates of $0.31. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $29.43 billion. Sandvik had a return on equity of 16.54% and a net margin of 11.89%. On average, analysts expect that Sandvik AB will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Sandvik

A number of institutional investors have recently modified their holdings of the business. Yousif Capital Management LLC raised its holdings in shares of Sandvik by 15.9% during the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company's stock worth $502,000 after buying an additional 3,030 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Sandvik by 13.9% during the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company's stock worth $788,000 after buying an additional 4,562 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Sandvik by 88.9% during the 1st quarter. GAMMA Investing LLC now owns 5,546 shares of the industrial products company's stock worth $117,000 after buying an additional 2,610 shares in the last quarter. Institutional investors and hedge funds own 0.74% of the company's stock.

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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