Sandvik (OTCMKTS:SDVKY) Shares Gap Up – Still a Buy?

Shares of Sandvik AB (OTCMKTS:SDVKY) gapped up before the market opened on Wednesday . The stock had previously closed at $36.01, but opened at $38.51. Sandvik shares last traded at $39.48, with a volume of 3,329 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group cut Sandvik from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 25th. Morgan Stanley downgraded Sandvik from an “overweight” rating to an “equal weight” rating in a research report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Barclays reiterated an “overweight” rating on shares of Sandvik in a research report on Wednesday, February 25th. Finally, Citigroup restated a “buy” rating on shares of Sandvik in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Sandvik presently has an average rating of “Moderate Buy”.

Sandvik Stock Performance

The stock has a market cap of $49.49 billion, a PE ratio of 32.60, a P/E/G ratio of 1.58 and a beta of 1.52. The company has a fifty day moving average price of $40.30 and a 200 day moving average price of $34.04. The company has a quick ratio of 1.02, a current ratio of 1.94 and a debt-to-equity ratio of 0.38.

Sandvik (OTCMKTS:SDVKY) last issued its earnings results on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.38 billion. Analysts expect that Sandvik AB will post 1.27 earnings per share for the current year.

Institutional Trading of Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC lifted its position in Sandvik AB (OTCMKTS:SDVKY) by 17.5% during the 4th quarter, according to its most recent disclosure with the SEC. 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 as of its most recent SEC filing. 0.74% of the stock is currently owned by institutional investors.

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.