Sandvik (OTCMKTS:SDVKY) Upgraded by Zacks Investment Research to Buy

Sandvik (OTCMKTS:SDVKY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Friday, January 12th. The firm currently has a $21.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.32% from the company’s previous close.

According to Zacks, “Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. “

Separately, ValuEngine lowered shares of Sandvik from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th.

Shares of Sandvik (OTCMKTS:SDVKY) traded down $0.73 during trading hours on Friday, reaching $18.87. The company’s stock had a trading volume of 28,067 shares, compared to its average volume of 46,173. Sandvik has a fifty-two week low of $13.28 and a fifty-two week high of $20.18. The company has a current ratio of 2.09, a quick ratio of 1.23 and a debt-to-equity ratio of 0.78. The stock has a market cap of $24,573.42, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 2.65 and a beta of 0.91.

An institutional investor recently raised its position in Sandvik stock. Parametric Portfolio Associates LLC boosted its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 665,023 shares of the industrial products company’s stock after buying an additional 83,981 shares during the period. Parametric Portfolio Associates LLC’s holdings in Sandvik were worth $10,521,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.07% of the company’s stock.

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About Sandvik

Sandvik AB (Sandvik) is an engineering company in mining and rock excavation, metal-cutting and materials technology. The Company is engaged in the developing, manufacturing and marketing processed products and services. Its segments include Sandvik Machining Solutions, Sandvik Mining and Rock Technology, Sandvik Materials Technology and Other Operations.

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