Sandvik AB (publ) (OTCMKTS:SDVKY) Rating Increased to Strong-Buy at Citigroup

Sandvik AB (publ) (OTCMKTS:SDVKY) was upgraded by investment analysts at Citigroup to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

Separately, Barclays upgraded shares of Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.

Sandvik AB (publ) Stock Performance

Shares of SDVKY opened at $20.53 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 1.58. The stock has a 50-day moving average of $20.74 and a two-hundred day moving average of $20.91. The stock has a market cap of $25.75 billion, a P/E ratio of 21.17, a P/E/G ratio of 3.04 and a beta of 1.49. Sandvik AB has a one year low of $16.31 and a one year high of $23.50.

Sandvik AB (publ) (OTCMKTS:SDVKY) last released its earnings results on Friday, July 19th. The industrial products company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). Sandvik AB (publ) had a return on equity of 16.82% and a net margin of 10.36%. The firm had revenue of $2.94 billion for the quarter. As a group, research analysts predict that Sandvik AB will post 1.26 EPS for the current year.

Institutional Trading of Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. GAMMA Investing LLC grew its position in Sandvik AB (publ) (OTCMKTS:SDVKY) by 46.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,314 shares of the industrial products company’s stock after acquiring an additional 1,375 shares during the period. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $96,000 at the end of the most recent quarter. 0.74% of the stock is currently owned by institutional investors.

About Sandvik AB (publ)

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.