Barclays Upgrades Sandvik AB (publ) (OTCMKTS:SDVKY) to “Strong-Buy”

Barclays upgraded shares of Sandvik AB (publ) (OTCMKTS:SDVKY) from a strong sell rating to a strong-buy rating in a research report released on Wednesday morning, Zacks.com reports.

Separately, DNB Markets upgraded Sandvik AB (publ) from a hold rating to a buy rating in a report on Thursday, June 13th.

Sandvik AB (publ) Trading Up 1.2 %

Shares of SDVKY stock opened at $21.21 on Wednesday. The stock has a market capitalization of $26.61 billion, a PE ratio of 21.87, a P/E/G ratio of 3.07 and a beta of 1.49. Sandvik AB has a 1-year low of $16.31 and a 1-year high of $23.50. The business has a 50-day moving average of $20.65 and a 200 day moving average of $20.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.58 and a quick ratio of 0.85.

Sandvik AB (publ) (OTCMKTS:SDVKY) last issued its earnings results on Friday, July 19th. The industrial products company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). The company had revenue of $2.94 billion for the quarter. Sandvik AB (publ) had a net margin of 10.36% and a return on equity of 16.82%. As a group, sell-side analysts anticipate that Sandvik AB will post 1.26 earnings per share for the current year.

Institutional Investors Weigh In On Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers boosted its position in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 27,045 shares of the industrial products company’s stock after purchasing an additional 2,750 shares during the quarter. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $543,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.74% of the company’s stock.

Sandvik AB (publ) Company Profile

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.