Sandvik (OTCMKTS:SDVKY) Shares Gap Down – Should You Sell?

Sandvik AB (OTCMKTS:SDVKY) shares gapped down prior to trading on Friday . The stock had previously closed at $38.46, but opened at $35.01. Sandvik shares last traded at $35.34, with a volume of 4,983 shares trading hands.

Analyst Upgrades and Downgrades

SDVKY has been the topic of several research reports. Kepler Capital Markets lowered Sandvik from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. The Goldman Sachs Group restated a “sell” rating on shares of Sandvik in a research note on Thursday, April 9th. Finally, Nordea Equity Research raised Sandvik to a “hold” rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Sandvik Stock Performance

The company has a current ratio of 1.96, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The stock has a market cap of $43.94 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 1.00 and a beta of 1.50. The stock’s 50 day moving average is $40.16 and its two-hundred day moving average is $39.77.

Sandvik (OTCMKTS:SDVKY) last announced its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. Analysts anticipate that Sandvik AB will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC grew its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,489 shares of the industrial products company’s stock after buying an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 as of its most recent filing with the SEC. 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.