Sandvik AB (OTCMKTS:SDVKY) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Sandvik AB (OTCMKTS:SDVKY) have earned an average recommendation of “Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company.

SDVKY has been the subject of several recent analyst reports. Barclays reaffirmed an “overweight” rating on shares of Sandvik in a research note on Thursday, January 29th. Zacks Research upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Citigroup reiterated a “buy” rating on shares of Sandvik in a research report on Monday, January 12th. Royal Bank Of Canada restated an “outperform” rating on shares of Sandvik in a research report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Monday, December 8th.

Sandvik Price Performance

Sandvik stock opened at $41.52 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.78 and a quick ratio of 0.90. Sandvik has a one year low of $16.94 and a one year high of $42.25. The firm has a market capitalization of $52.08 billion, a P/E ratio of 34.31, a PEG ratio of 1.74 and a beta of 1.51. The business has a fifty day moving average price of $34.42 and a 200-day moving average price of $29.94.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Sandvik had a return on equity of 17.13% and a net margin of 12.16%.The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.38 billion. As a group, equities research analysts forecast that Sandvik will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Sandvik

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC increased its holdings in shares of Sandvik by 3,795.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock worth $25,000 after buying an additional 835 shares during the last quarter. GAMMA Investing LLC increased its stake in Sandvik by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 8,704 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 1,298 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its stake 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 purchasing 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 (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.