Sandvik AB (publ) (OTCMKTS:SDVKY) Raised to “Market Perform” at Sanford C. Bernstein

Sandvik AB (publ) (OTCMKTS:SDVKY) was upgraded by equities research analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a research report issued on Monday, MarketBeat Ratings reports.

Several other brokerages have also recently issued reports on SDVKY. UBS Group cut shares of Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 23rd. Citigroup raised Sandvik AB (publ) to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Barclays upgraded Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Sandvik AB (publ) Trading Down 0.3 %

OTCMKTS SDVKY opened at $18.30 on Monday. The stock has a market cap of $22.96 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 3.25 and a beta of 1.46. Sandvik AB has a fifty-two week low of $17.76 and a fifty-two week high of $23.50. The stock has a 50 day simple moving average of $18.69 and a two-hundred day simple moving average of $19.82. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 1.63.

Sandvik AB (publ) (OTCMKTS:SDVKY) last announced its quarterly earnings results on Monday, October 21st. The industrial products company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $2.91 billion during the quarter. Sandvik AB (publ) had a return on equity of 16.52% and a net margin of 9.93%. On average, analysts forecast that Sandvik AB will post 1.02 earnings per share for the current year.

Hedge Funds Weigh In On Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. GAMMA Investing LLC grew its position in Sandvik AB (publ) (OTCMKTS:SDVKY) by 14.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,425 shares of the industrial products company’s stock after buying an additional 564 shares during the period. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $99,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Sandvik AB (publ) Company Profile

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.