Sandvik (OTCMKTS:SDVKY) Lowered to “Hold” Rating by Kepler Capital Markets

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

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

Sandvik Stock Performance

Shares of SDVKY opened at $40.00 on Wednesday. The company has a market cap of $50.18 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 1.14 and a beta of 1.50. The firm has a 50-day moving average of $40.31 and a 200-day moving average of $39.77. Sandvik has a one year low of $23.96 and a one year high of $44.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.96 and a quick ratio of 1.06.

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

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC boosted its holdings in Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,704 shares of the industrial products company’s stock after purchasing an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.74% of the company’s stock.

About Sandvik

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.