Credit Suisse Group Cuts Sandvik AB (publ) (OTCMKTS:SDVKY) Price Target to SEK 230

Sandvik AB (publ) (OTCMKTS:SDVKYGet Rating) had its target price reduced by Credit Suisse Group from SEK 290 to SEK 230 in a research report report published on Wednesday morning, The Fly reports. They currently have an outperform rating on the industrial products company’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley boosted their price target on Sandvik AB (publ) from SEK 267 to SEK 275 in a report on Friday, January 21st. Zacks Investment Research cut Sandvik AB (publ) from a hold rating to a sell rating in a report on Thursday, March 24th. Barclays reduced their price target on Sandvik AB (publ) from SEK 255 to SEK 230 and set an equal weight rating on the stock in a report on Monday, April 4th. Citigroup boosted their price target on Sandvik AB (publ) from SEK 314 to SEK 319 in a report on Friday, January 21st. Finally, JPMorgan Chase & Co. reduced their price target on Sandvik AB (publ) from SEK 285 to SEK 260 and set an overweight rating on the stock in a report on Monday, April 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Sandvik AB (publ) has a consensus rating of Hold and a consensus price target of $229.00.

Sandvik AB (publ) stock opened at $18.66 on Wednesday. Sandvik AB has a 12-month low of $17.30 and a 12-month high of $29.06. The company has a quick ratio of 1.31, a current ratio of 1.92 and a debt-to-equity ratio of 0.38. The business’s 50-day moving average price is $20.66 and its two-hundred day moving average price is $24.07. The stock has a market cap of $23.41 billion, a PE ratio of 13.33, a P/E/G ratio of 6.26 and a beta of 1.32.

Several institutional investors have recently bought and sold shares of the stock. Scout Investments Inc. lifted its stake in shares of Sandvik AB (publ) by 0.4% in the fourth quarter. Scout Investments Inc. now owns 150,111 shares of the industrial products company’s stock worth $4,196,000 after acquiring an additional 539 shares during the period. Mitchell Capital Management Co. lifted its stake in Sandvik AB (publ) by 4.2% in the first quarter. Mitchell Capital Management Co. now owns 18,235 shares of the industrial products company’s stock valued at $387,000 after buying an additional 728 shares during the period. PNC Financial Services Group Inc. acquired a new position in Sandvik AB (publ) in the third quarter valued at approximately $52,000. Yousif Capital Management LLC acquired a new position in Sandvik AB (publ) in the fourth quarter valued at approximately $543,000. Finally, Fisher Asset Management LLC lifted its stake in Sandvik AB (publ) by 15.1% in the first quarter. Fisher Asset Management LLC now owns 9,565,163 shares of the industrial products company’s stock valued at $206,301,000 after buying an additional 1,253,749 shares during the period. 0.67% of the stock is currently owned by institutional investors.

Sandvik AB (publ) Company Profile (Get Rating)

Sandvik AB (publ) operates as an engineering company in the areas of mining and rock excavation, rock processing, manufacturing and machining, and materials technology in Sweden and internationally. The company offers mining and rock solutions, including drill rigs, underground loaders and trucks, rock drills and other tools, and parts and services, as well as digital and sustainability solutions; and rock processing applications, which include crushing, screening, feeding, breaking, demolition, and recycling.

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