Sandvik (OTCMKTS:SDVKY) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Sandvik was upgraded to a "Strong-Buy" rating by Zacks Research, indicating a positive outlook for the stock.
• The company's recent earnings report revealed earnings per share of $0.31, meeting analysts' expectations, with revenues of $3.04 billion.
• Sandvik's stock is currently rated as a "Moderate Buy" by analysts, with various firms providing differing ratings, including one "Strong Buy" and three "Buy" ratings.

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

Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Sandvik in a research note on Monday, September 29th. Barclays reaffirmed an "overweight" rating on shares of Sandvik in a report on Monday, September 8th. Pareto Securities cut shares of Sandvik from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Citigroup reaffirmed a "buy" rating on shares of Sandvik in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Sandvik Stock Down 1.4%

SDVKY opened at $28.34 on Monday. Sandvik has a twelve month low of $16.94 and a twelve month high of $28.89. The company has a quick ratio of 0.86, a current ratio of 1.62 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average price of $26.14 and a 200-day moving average price of $23.38. The stock has a market capitalization of $35.55 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.49 and a beta of 1.60.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last announced 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 business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $29.43 billion. Sandvik had a net margin of 11.89% and a return on equity of 16.54%. Equities research analysts forecast that Sandvik will post 1.27 earnings per share for the current year.

Institutional Trading of Sandvik

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of Sandvik by 3,893.3% during the 1st quarter. GAMMA Investing LLC now owns 117,242 shares of the industrial products company's stock valued at $2,478,000 after purchasing an additional 114,306 shares during the last quarter. Rhumbline Advisers grew its holdings 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 buying an additional 4,562 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in Sandvik by 15.9% in the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company's stock worth $502,000 after acquiring an additional 3,030 shares during the last quarter. Hedge funds and other institutional investors 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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