Sandvik (OTCMKTS:SDVKY) Upgraded by Rothschild Redb to Strong-Buy Rating

Key Points

• Sandvik has been upgraded from a "hold" rating to a "strong-buy" rating by Rothschild Redb, signifying increased analyst confidence in the stock.
• Despite the upgrade, the company reported earnings per share of $0.30, which missed the consensus estimate of $0.32.
• Sandvik's stock has a market capitalization of $37.38 billion and is currently within its 52-week trading range, achieving a high of $29.98.

Sandvik (OTCMKTS:SDVKY - Get Free Report) was upgraded by equities research analysts at Rothschild Redb from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on the stock. Zacks Research raised shares of Sandvik from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Pareto Securities downgraded shares of Sandvik from a "buy" rating to a "hold" rating in a research report on Sunday, October 5th. Royal Bank Of Canada reissued an "outperform" rating on shares of Sandvik in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Sandvik in a research report on Monday, September 29th. Finally, Barclays reissued an "overweight" rating on shares of Sandvik in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Sandvik has a consensus rating of "Buy".

Sandvik Stock Up 0.1%

Shares of Sandvik stock opened at $29.80 on Tuesday. The firm's 50 day moving average price is $27.06 and its 200-day moving average price is $23.93. The company has a quick ratio of 0.86, a current ratio of 1.62 and a debt-to-equity ratio of 0.42. Sandvik has a 52-week low of $16.94 and a 52-week high of $29.98. The company has a market cap of $37.38 billion, a P/E ratio of 25.47, a PEG ratio of 1.50 and a beta of 1.60.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last released its earnings results on Monday, October 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). The company had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $29.69 billion. Sandvik had a return on equity of 16.56% and a net margin of 12.24%. On average, sell-side analysts predict that Sandvik will post 1.27 EPS for the current fiscal year.

Institutional Trading of Sandvik

Several institutional investors and hedge funds have recently bought and sold shares of SDVKY. Rhumbline Advisers lifted its stake in Sandvik by 13.9% during the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company's stock valued at $788,000 after acquiring an additional 4,562 shares during the period. Yousif Capital Management LLC boosted its holdings in Sandvik by 15.9% during the second 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. GAMMA Investing LLC boosted its holdings in Sandvik by 88.9% during the first 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. Finally, Salomon & Ludwin LLC boosted its holdings in Sandvik by 3,795.5% during the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company's stock worth $25,000 after buying an additional 835 shares in the last quarter. 0.74% of the stock is currently owned by institutional investors and hedge funds.

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.

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