Sandvik (OTCMKTS:SDVKY) Reaches New 1-Year High After Analyst Upgrade

Sandvik AB (OTCMKTS:SDVKY) hit a new 52-week high on Wednesday after Rothschild Redb upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $29.98 and last traded at $29.77, with a volume of 34425 shares. The stock had previously closed at $29.80.

Several other brokerages have also recently weighed in on SDVKY. Barclays reissued an “overweight” rating on shares of Sandvik in a report on Monday, September 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research note on Monday, September 29th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Sandvik in a research report on Wednesday. Zacks Research upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Citigroup reiterated a “buy” rating on shares of Sandvik in a report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sandvik currently has an average rating of “Buy”.

Institutional Trading of Sandvik

A number of large investors have recently bought and sold shares of SDVKY. Salomon & Ludwin LLC increased its position in shares of Sandvik by 3,795.5% during the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 835 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Sandvik by 88.9% in the 1st quarter. GAMMA Investing LLC now owns 5,546 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 2,610 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of Sandvik by 15.9% in the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock valued at $502,000 after acquiring an additional 3,030 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Sandvik by 13.9% in the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock valued at $788,000 after acquiring an additional 4,562 shares in the last quarter. 0.74% of the stock is owned by institutional investors.

Sandvik Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.62 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $27.17 and a two-hundred day simple moving average of $24.01. The stock has a market capitalization of $38.03 billion, a P/E ratio of 25.91, a P/E/G ratio of 1.45 and a beta of 1.60.

Sandvik (OTCMKTS:SDVKY) last posted its quarterly earnings results on Monday, October 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Sandvik had a net margin of 12.24% and a return on equity of 16.56%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $29.69 billion. On average, equities analysts forecast that Sandvik AB will post 1.27 EPS for the current fiscal year.

About Sandvik

Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide. The company offers mining and rock excavation equipment, including drill rigs and bolters, underground loaders and trucks, mechanical cutting equipment, rock tools and rock drills, and mining automation; rock processing equipment, such as crushers, screens, hydraulic breakers, demolition tools, and breaker booms.