Sandvik (OTCMKTS:SDVKY) Hits New 52-Week 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) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $26.72 and last traded at $26.54, with a volume of 15300 shares. The stock had previously closed at $26.41.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SDVKY shares. Barclays reaffirmed an "overweight" rating on shares of Sandvik in a research report on Monday, September 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Sandvik in a research report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Sandvik Stock Performance

The company has a market capitalization of $34.41 billion, a PE ratio of 24.49, a PEG ratio of 1.81 and a beta of 1.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.86 and a current ratio of 1.62. The company has a 50 day moving average price of $25.09 and a 200 day moving average price of $22.82.

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

Hedge Funds Weigh In On Sandvik

Several large investors have recently added to or reduced their stakes in SDVKY. GAMMA Investing LLC lifted its stake in 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. Yousif Capital Management LLC lifted its stake in 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 lifted its stake in Sandvik by 13.9% in the first quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company's stock valued at $788,000 after buying an additional 4,562 shares during the last quarter. 0.74% of the stock is currently 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.