Sandvik (OTCMKTS:SDVKY) Cut to “Hold” at Kepler Capital Markets

Kepler Capital Markets downgraded shares of Sandvik (OTCMKTS:SDVKY) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Several other analysts have also recently issued reports on SDVKY. Citigroup cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. The Goldman Sachs Group reissued a “sell” rating on shares of Sandvik in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Nordea Equity Research raised Sandvik to a “hold” rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sandvik currently has an average rating of “Hold”.

Sandvik Trading Down 8.9%

Shares of SDVKY opened at $35.03 on Wednesday. Sandvik has a 52-week low of $23.96 and a 52-week high of $44.53. The company has a quick ratio of 1.06, a current ratio of 1.96 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $40.16 and its two-hundred day moving average is $39.77. The stock has a market cap of $43.94 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.10 and a beta of 1.50.

Sandvik (OTCMKTS:SDVKY) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. Research analysts forecast that Sandvik will post 1.71 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 boosted its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,489 shares of the industrial products company’s stock after purchasing an additional 616 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 at the end of the most recent quarter. 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.