Sandvik (OTCMKTS:SDVKY) Cut to Hold at Zacks Research

Zacks Research lowered shares of Sandvik (OTCMKTS:SDVKY) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

SDVKY has been the subject of several other reports. Citigroup restated a “buy” rating on shares of Sandvik in a research report on Monday, January 12th. Jefferies Financial Group downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 25th. Royal Bank Of Canada reissued an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. Rothschild & Co Redburn raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Finally, Barclays reissued an “overweight” rating on shares of Sandvik in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Sandvik presently has an average rating of “Moderate Buy”.

Sandvik Trading Up 0.5%

OTCMKTS SDVKY opened at $42.00 on Monday. The company has a current ratio of 1.94, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38. Sandvik has a 12 month low of $16.94 and a 12 month high of $44.00. The company has a market capitalization of $52.68 billion, a PE ratio of 34.71, a P/E/G ratio of 1.79 and a beta of 1.51. The stock has a 50-day simple moving average of $36.29 and a 200 day simple moving average of $30.95.

Sandvik (OTCMKTS:SDVKY) last posted its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Sandvik had a net margin of 12.16% and a return on equity of 16.94%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.38 billion. Research analysts forecast that Sandvik will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Sandvik

Institutional investors have recently made changes to their positions in the stock. Yousif Capital Management LLC grew 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 acquiring an additional 3,030 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Sandvik by 24.8% in the 3rd quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 1,473 shares in the last quarter. Finally, Salomon & Ludwin LLC raised 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 during the last quarter. 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.