Sandvik (OTCMKTS:SDVKY) Rating Lowered to “Hold” at Citigroup

Sandvik (OTCMKTS:SDVKY) was downgraded by research analysts at Citigroup from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms also recently commented on SDVKY. Jefferies Financial Group downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 25th. Barclays reissued an “overweight” rating on shares of Sandvik in a research report on Wednesday, February 25th. Morgan Stanley downgraded Sandvik from an “overweight” rating to an “equal weight” rating in a research report on Thursday, March 12th. Zacks Research downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating on shares of Sandvik in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Sandvik Trading Down 0.2%

Sandvik stock opened at $43.55 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.94 and a quick ratio of 1.02. The company has a market capitalization of $54.63 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 1.64 and a beta of 1.52. Sandvik has a one year low of $18.99 and a one year high of $44.43. The company’s fifty day moving average price is $40.69 and its two-hundred day moving average price is $34.93.

Sandvik (OTCMKTS:SDVKY) last posted its earnings results 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). The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.38 billion. Sandvik had a return on equity of 16.94% and a net margin of 12.16%. On average, analysts forecast that Sandvik will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC raised its position in Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,704 shares of the industrial products company’s stock after acquiring an additional 1,298 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.74% of the company’s stock.

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.