Sandvik (SDVKY) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Sandvik (OTCMKTS:SDVKY) from a sell rating to a hold rating in a research note published on Wednesday.

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 raised shares of Sandvik from a hold rating to a buy rating in a report on Sunday, December 31st.

SDVKY stock opened at $19.02 on Wednesday. The stock has a market cap of $24,046.58, a P/E ratio of 20.23, a P/E/G ratio of 1.81 and a beta of 0.97. Sandvik has a 52 week low of $14.53 and a 52 week high of $20.18. The company has a current ratio of 2.32, a quick ratio of 1.47 and a debt-to-equity ratio of 0.03.

Sandvik (OTCMKTS:SDVKY) last released its quarterly earnings data on Monday, February 5th. The industrial products company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.64 billion. Sandvik had a net margin of 14.54% and a return on equity of 22.82%. equities analysts predict that Sandvik will post 1.12 earnings per share for the current year.

A hedge fund recently raised its stake in Sandvik stock. Parametric Portfolio Associates LLC raised its holdings in Sandvik AB (OTCMKTS:SDVKY) by 11.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 735,941 shares of the industrial products company’s stock after purchasing an additional 76,252 shares during the period. Parametric Portfolio Associates LLC owned 0.06% of Sandvik worth $12,761,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.17% of the company’s stock.

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About Sandvik

Sandvik AB (publ) operates as an engineering company in the areas of rock excavation, metal-cutting, and materials technology worldwide. The company offers construction equipment and tools, including breakers and demolition tools, mobile and stationary crushers and screens, rock tools, spare and wear parts, surface drill rigs, and tunneling equipment.

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