Sandvik AB (publ) (OTCMKTS:SDVKY) Upgraded to Strong-Buy at Barclays

Sandvik AB (publ) (OTCMKTS:SDVKY) was upgraded by equities researchers at Barclays from a “strong sell” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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

Sandvik AB (publ) Stock Down 0.9 %

Shares of OTCMKTS:SDVKY opened at $20.96 on Wednesday. The company has a market capitalization of $26.29 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 3.07 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.58 and a quick ratio of 0.85. The business’s 50-day moving average is $20.59 and its 200-day moving average is $20.97. Sandvik AB has a 1 year low of $16.31 and a 1 year high of $23.50.

Sandvik AB (publ) (OTCMKTS:SDVKY) last posted its quarterly 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). Sandvik AB (publ) had a return on equity of 16.82% and a net margin of 10.36%. The firm had revenue of $2.94 billion for the quarter. Equities research analysts predict that Sandvik AB will post 1.26 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. GAMMA Investing LLC increased its holdings in Sandvik AB (publ) (OTCMKTS:SDVKY) by 46.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,314 shares of the industrial products company’s stock after acquiring an additional 1,375 shares during the period. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $96,000 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.