Sandvik (OTCMKTS:SDVKY) Shares Gap Down – Time to Sell?

Sandvik AB (OTCMKTS:SDVKY) gapped down before the market opened on Monday . The stock had previously closed at $32.88, but opened at $31.85. Sandvik shares last traded at $33.0325, with a volume of 4,046 shares changing hands.

Analysts Set New Price Targets

SDVKY has been the subject of a number of recent research reports. Rothschild Redb raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Barclays reaffirmed an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Citigroup restated a “buy” rating on shares of Sandvik in a research report on Tuesday, October 7th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sandvik in a research note on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Sandvik Trading Up 2.8%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.78. The company has a market capitalization of $41.91 billion, a PE ratio of 29.49, a PEG ratio of 1.37 and a beta of 1.50. The stock has a fifty day moving average of $31.04 and a 200 day moving average of $27.77.

Sandvik (OTCMKTS:SDVKY) last released its quarterly earnings data on Monday, October 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02). Sandvik had a net margin of 12.24% and a return on equity of 16.30%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $29.69 billion. As a group, sell-side analysts predict that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sandvik

Hedge funds have recently made changes to their positions in the company. Yousif Capital Management LLC increased its stake in Sandvik by 15.9% in the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock worth $502,000 after acquiring an additional 3,030 shares during the last quarter. GAMMA Investing LLC increased its position in Sandvik by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 8,704 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 1,298 shares during the last quarter. Salomon & Ludwin LLC raised its stake in Sandvik by 3,795.5% during the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 835 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Sandvik by 13.9% during the first quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock valued at $788,000 after purchasing an additional 4,562 shares during the last quarter. 0.74% of the stock is currently owned by hedge funds and other 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.