Sandvik (OTCMKTS:SDVKY) Downgraded by Morgan Stanley to Equal Weight

Morgan Stanley lowered shares of Sandvik (OTCMKTS:SDVKY) from an overweight rating to an equal weight rating in a research report sent to investors on Thursday morning, Marketbeat reports.

Other equities analysts have also recently issued reports about the company. Citigroup reissued a “buy” rating on shares of Sandvik in a report on Monday, January 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Monday, December 8th. Barclays reissued an “overweight” rating on shares of Sandvik in a report on Wednesday, February 25th. Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Jefferies Financial Group downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Sandvik has a consensus rating of “Moderate Buy”.

Sandvik Stock Performance

Shares of SDVKY stock opened at $40.54 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.94 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $39.48 and a 200-day moving average price of $32.82. Sandvik has a 52 week low of $16.94 and a 52 week high of $44.43. The firm has a market capitalization of $50.85 billion, a PE ratio of 33.50, a P/E/G ratio of 1.78 and a beta of 1.48.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.38 billion. As a group, equities research analysts expect that Sandvik will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sandvik stock. Salomon & Ludwin LLC lifted its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 3,795.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 857 shares of the industrial products company’s stock after acquiring an additional 835 shares during the quarter. Salomon & Ludwin LLC’s holdings in Sandvik were worth $25,000 at the end of the most recent reporting period. 0.74% of the stock is currently owned by hedge funds and other institutional investors.

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.