Sandvik AB (publ) (OTCMKTS:SDVKY) Rating Lowered to Sell at UBS Group

Sandvik AB (publ) (OTCMKTS:SDVKY) was downgraded by analysts at UBS Group from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports.

Several other research analysts have also commented on the company. Citigroup raised Sandvik AB (publ) to a “strong-buy” rating in a report on Tuesday, October 15th. Barclays raised 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 Down 0.7 %

SDVKY opened at $19.66 on Wednesday. The company’s 50-day moving average is $20.81 and its 200 day moving average is $20.83. 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 has a fifty-two week low of $16.55 and a fifty-two week high of $23.50. The firm has a market capitalization of $24.66 billion, a P/E ratio of 21.14, a PEG ratio of 2.98 and a beta of 1.49.

Sandvik AB (publ) (OTCMKTS:SDVKY) last posted its earnings results on Monday, October 21st. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). Sandvik AB (publ) had a return on equity of 16.56% and a net margin of 9.93%. The company had revenue of $2.91 billion for the quarter. Research analysts expect that Sandvik AB will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers raised its stake in Sandvik AB (publ) (OTCMKTS:SDVKY) by 11.3% in the 2nd quarter, according to its most recent disclosure 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 quarter. 0.74% of the stock is currently owned by institutional investors and hedge funds.

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.