Sandvik AB (publ) (OTCMKTS:SDVKY) Upgraded to Market Perform at Sanford C. Bernstein

Sandvik AB (publ) (OTCMKTS:SDVKY) was upgraded by stock analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a report released on Monday, Marketbeat.com reports.

SDVKY has been the subject of several other research reports. UBS Group lowered Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, October 23rd. Barclays raised shares of Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Citigroup raised shares of Sandvik AB (publ) to a “strong-buy” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Sandvik AB (publ) Trading Down 0.3 %

Shares of SDVKY stock opened at $18.30 on Monday. The stock has a market capitalization of $22.96 billion, a P/E ratio of 19.68, a P/E/G ratio of 3.25 and a beta of 1.46. The company has a current ratio of 1.63, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The firm’s 50 day moving average is $18.69 and its 200 day moving average is $19.82. Sandvik AB has a 12-month low of $17.76 and a 12-month high of $23.50.

Sandvik AB (publ) (OTCMKTS:SDVKY) last announced 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 16.52% and a net margin of 9.93%. The firm had revenue of $2.91 billion during the quarter. Research analysts expect that Sandvik AB will post 1.02 earnings per share for the current year.

Hedge Funds Weigh In On Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers increased its holdings in Sandvik AB (publ) (OTCMKTS:SDVKY) by 11.3% during the 2nd quarter, according to its most recent Form 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 period. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $543,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.74% of the company’s stock.

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.