Sandvik (OTCMKTS:SDVKY) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Sandvik (OTCMKTS:SDVKY) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $31.00 price objective on the industrial products company’s stock.

According to Zacks, “Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. “

A number of other analysts have also recently commented on the company. UBS Group cut Sandvik from a buy rating to a neutral rating in a research report on Tuesday, January 19th. Deutsche Bank Aktiengesellschaft upgraded Sandvik from a hold rating to a buy rating in a research report on Friday, January 29th. HSBC raised Sandvik from a hold rating to a buy rating in a research note on Friday, February 26th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a buy rating on shares of Sandvik in a research note on Friday, December 11th. Finally, AlphaValue raised Sandvik to a reduce rating in a research note on Tuesday, January 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $31.00.

Shares of SDVKY stock opened at $27.23 on Wednesday. The stock has a market cap of $34.16 billion, a P/E ratio of 51.38, a P/E/G ratio of 5.20 and a beta of 1.29. The business has a fifty day simple moving average of $26.35 and a 200-day simple moving average of $22.68. Sandvik has a fifty-two week low of $11.20 and a fifty-two week high of $28.36. The company has a quick ratio of 1.57, a current ratio of 2.44 and a debt-to-equity ratio of 0.35.

Sandvik (OTCMKTS:SDVKY) last posted its quarterly earnings data on Thursday, January 21st. The industrial products company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.15. The firm had revenue of $2.60 billion during the quarter. Sandvik had a return on equity of 19.81% and a net margin of 6.75%. On average, sell-side analysts anticipate that Sandvik will post 0.89 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Capital Group LLC lifted its stake in shares of Sandvik by 240.0% in the 4th quarter. Private Capital Group LLC now owns 1,792 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 1,265 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Sandvik in the 3rd quarter valued at about $78,000. Colony Group LLC lifted its stake in shares of Sandvik by 24.9% in the 3rd quarter. Colony Group LLC now owns 17,753 shares of the industrial products company’s stock valued at $349,000 after purchasing an additional 3,541 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new position in shares of Sandvik in the 4th quarter valued at about $20,417,000. 0.12% of the stock is currently owned by institutional investors and hedge funds.

Sandvik Company Profile

Sandvik AB (publ) operates as an engineering company in the areas of mining and rock excavation, metal cutting, and materials technology worldwide. The company offers metal-cutting tools and tooling systems, including boring, drilling, milling, reaming, and turning tools, as well as tailor made tools and inserts, and tooling systems.

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