Zacks Research cut shares of Sandvik (OTCMKTS:SDVKY – Free Report) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.
Other analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Sandvik from an “overweight” rating to an “equal weight” rating in a report on Thursday, March 12th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Sandvik in a report on Thursday, April 9th. Citigroup downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Barclays restated an “overweight” rating on shares of Sandvik in a report on Wednesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.
View Our Latest Analysis on Sandvik
Sandvik Price Performance
Sandvik (OTCMKTS:SDVKY – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. As a group, analysts predict that Sandvik will post 1.69 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sandvik
An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC raised its holdings in Sandvik AB (OTCMKTS:SDVKY – Free Report) by 17.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period. 0.74% of the stock is 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.
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