Sandvik (OTCMKTS:SDVKY) Shares Gap Down – What’s Next?

Sandvik AB (OTCMKTS:SDVKY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $37.0150, but opened at $35.11. Sandvik shares last traded at $36.33, with a volume of 6,762 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays reissued an “overweight” rating on shares of Sandvik in a report on Wednesday, February 25th. Jefferies Financial Group downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 25th. Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Morgan Stanley cut Sandvik from an “overweight” rating to an “equal weight” rating in a report on Thursday, March 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Sandvik presently has an average rating of “Moderate Buy”.

Sandvik Stock Down 0.4%

The stock has a market capitalization of $46.24 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The company has a quick ratio of 1.02, a current ratio of 1.94 and a debt-to-equity ratio of 0.38. The business’s 50-day moving average is $39.97 and its two-hundred day moving average is $33.52.

Sandvik (OTCMKTS:SDVKY) last posted its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Sandvik had a net margin of 12.16% and a return on equity of 16.94%. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Equities analysts anticipate that Sandvik AB will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC increased its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,704 shares of the industrial products company’s stock after purchasing an additional 1,298 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 at the end of the most recent quarter. 0.74% of the stock is currently owned by institutional investors and hedge funds.

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.