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

Sandvik AB (publ) (OTCMKTS:SDVKY) was upgraded by equities researchers at Citigroup to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

Separately, Barclays upgraded shares of Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

Sandvik AB (publ) Stock Performance

OTCMKTS SDVKY opened at $20.53 on Tuesday. 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 1-year low of $16.31 and a 1-year high of $23.50. The business has a 50 day simple moving average of $20.74 and a two-hundred day simple moving average of $20.91. The stock has a market capitalization of $25.75 billion, a PE ratio of 21.17, a P/E/G ratio of 3.04 and a beta of 1.49.

Sandvik AB (publ) (OTCMKTS:SDVKY) last posted its earnings results on Friday, July 19th. The industrial products company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The business had revenue of $2.94 billion during the quarter. Sandvik AB (publ) had a net margin of 10.36% and a return on equity of 16.82%. On average, research analysts predict that Sandvik AB will post 1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. GAMMA Investing LLC boosted its position in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 14.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,425 shares of the industrial products company’s stock after buying an additional 564 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $99,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors 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.