Zacks Investment Research Downgrades SANDVIK AB/ADR (SDVKY) to Sell

Zacks Investment Research cut shares of SANDVIK AB/ADR (OTCMKTS:SDVKY) from a hold rating to a sell rating in a research report released on Thursday.

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. “

SDVKY has been the subject of several other reports. ValuEngine downgraded SANDVIK AB/ADR from a hold rating to a sell rating in a research note on Tuesday. Barclays downgraded SANDVIK AB/ADR from an equal weight rating to a sell rating in a research report on Wednesday, October 3rd.

OTCMKTS SDVKY traded down $0.46 during mid-day trading on Thursday, hitting $15.19. The stock had a trading volume of 22,367 shares, compared to its average volume of 31,834. SANDVIK AB/ADR has a 52-week low of $15.55 and a 52-week high of $20.18. The company has a market capitalization of $20.13 billion, a P/E ratio of 16.16, a PEG ratio of 1.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.37 and a quick ratio of 1.42.

SANDVIK AB/ADR (OTCMKTS:SDVKY) last released its quarterly earnings data on Tuesday, July 17th. The industrial products company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. SANDVIK AB/ADR had a return on equity of 24.46% and a net margin of 15.77%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.77 billion. On average, research analysts expect that SANDVIK AB/ADR will post 1.19 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in SANDVIK AB/ADR stock. Scout Investments Inc. grew its stake in shares of SANDVIK AB/ADR (OTCMKTS:SDVKY) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 212,227 shares of the industrial products company’s stock after buying an additional 19,234 shares during the period. Scout Investments Inc.’s holdings in SANDVIK AB/ADR were worth $3,772,000 at the end of the most recent reporting period. 0.09% of the stock is owned by hedge funds and other institutional investors.

About SANDVIK AB/ADR

Sandvik AB (publ) operates as an engineering company in the areas of mining and rock excavation, metal-cutting, and materials technology worldwide. The company offers metal-cutting tools and tooling systems, including boring, drilling, milling, reaming, and turning tools, as well as tailor made tools and inserts and tooling systems; and mining and rock excavation equipment and tools, such as stationary and mobile crushers and screens, underground drill rigs and bolters, surface drill rigs, exploration drill rigs and tools, underground loaders and trucks, mechanical cutting equipment, rock tools, rock drills, mining automation systems, bulk materials handling equipment, conveyor components, and parts and services, as well as breakers, demolition tools, and booms.

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