Sandvik AB (publ) (OTCMKTS:SDVKY) Given New SEK 230 Price Target at Deutsche Bank Aktiengesellschaft

Sandvik AB (publ) (OTCMKTS:SDVKYGet Rating) had its target price cut by equities research analysts at Deutsche Bank Aktiengesellschaft from SEK 260 to SEK 230 in a report released on Tuesday, The Fly reports.

Several other research analysts have also recently weighed in on the stock. Barclays cut their price target on shares of Sandvik AB (publ) from SEK 255 to SEK 230 and set an “equal weight” rating on the stock in a report on Monday, April 4th. JPMorgan Chase & Co. cut their price target on shares of Sandvik AB (publ) from SEK 285 to SEK 260 and set an “overweight” rating on the stock in a report on Monday, April 11th. Credit Suisse Group cut their price target on shares of Sandvik AB (publ) from SEK 290 to SEK 230 and set an “outperform” rating on the stock in a report on Wednesday, May 11th. Finally, Royal Bank of Canada upgraded shares of Sandvik AB (publ) from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $257.33.

OTCMKTS:SDVKY opened at $16.21 on Tuesday. Sandvik AB has a one year low of $15.92 and a one year high of $29.06. The company has a market cap of $20.33 billion, a PE ratio of 11.58, a PEG ratio of 3.81 and a beta of 1.38. The firm has a 50-day moving average of $18.85 and a 200-day moving average of $22.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.92 and a quick ratio of 1.31.

Sandvik AB (publ) (OTCMKTS:SDVKYGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The industrial products company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03). Sandvik AB (publ) had a return on equity of 19.12% and a net margin of 15.11%. The firm had revenue of $2.67 billion for the quarter. On average, equities research analysts expect that Sandvik AB will post 1.29 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Mitchell Capital Management Co. increased its holdings in Sandvik AB (publ) by 4.2% during the 1st quarter. Mitchell Capital Management Co. now owns 18,235 shares of the industrial products company’s stock worth $387,000 after acquiring an additional 728 shares during the period. Yousif Capital Management LLC bought a new stake in Sandvik AB (publ) during the 4th quarter worth approximately $543,000. Scout Investments Inc. increased its holdings in Sandvik AB (publ) by 0.4% during the 4th quarter. Scout Investments Inc. now owns 150,111 shares of the industrial products company’s stock worth $4,196,000 after acquiring an additional 539 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Sandvik AB (publ) by 15.1% during the 1st quarter. Fisher Asset Management LLC now owns 9,565,163 shares of the industrial products company’s stock worth $206,301,000 after acquiring an additional 1,253,749 shares during the period. 0.67% of the stock is currently owned by institutional investors and hedge funds.

Sandvik AB (publ) Company Profile (Get Rating)

Sandvik AB (publ) operates as an engineering company in the areas of mining and rock excavation, rock processing, manufacturing and machining, and materials technology in Sweden and internationally. The company offers mining and rock solutions, including drill rigs, underground loaders and trucks, rock drills and other tools, and parts and services, as well as digital and sustainability solutions; and rock processing applications, which include crushing, screening, feeding, breaking, demolition, and recycling.

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