Sandvik (OTCMKTS:SDVKY) Shares Gap Up - Time to Buy?

Key Points

• Sandvik shares jumped 6.3% at the open, rising from a prior close of $37.84 to $40.13 and last trading at $40.24 on modest volume.
• Analyst sentiment is mixed: Deutsche Bank reaffirmed a “Buy” rating, while Zacks Research and Kepler Capital Markets downgraded the stock to “Hold.” Overall, analysts give Sandvik an average “Hold” rating.
• Sandvik has a $50.36 billion market capitalization, a P/E ratio of 27.69 and a debt-to-equity ratio of 0.31. Institutional investors and hedge funds own just 0.74% of the company.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $37.84, but opened at $40.13. Sandvik shares last traded at $40.24, with a volume of 2,195 shares.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SDVKY. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Sandvik in a report on Thursday, June 18th. Zacks Research cut Sandvik from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. Finally, Kepler Capital Markets downgraded Sandvik from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold".

Sandvik Stock Up 3.8%

The company's 50 day simple moving average is $38.90 and its 200-day simple moving average is $40.11. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. The firm has a market cap of $50.36 billion, a P/E ratio of 27.69, a PEG ratio of 1.08 and a beta of 1.51.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC boosted its stake in Sandvik AB (OTCMKTS:SDVKY - Free Report) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,489 shares of the industrial products company's stock after purchasing an additional 616 shares during the period. GAMMA Investing LLC's holdings in Sandvik were worth $432,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.74% of the company's stock.

Sandvik Company Profile

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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