Sandvik AB (OTCMKTS:SDVKY) Receives Consensus Recommendation of “Hold” from Analysts

Sandvik AB (OTCMKTS:SDVKY) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company.

Several research analysts have recently issued reports on SDVKY shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. Zacks Research downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Kepler Capital Markets lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, Berenberg Bank upgraded Sandvik to a “hold” rating in a report on Thursday, August 27th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC grew its position in Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,489 shares of the industrial products company’s stock after purchasing an additional 616 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 at the end of the most recent reporting period. 0.74% of the stock is owned by institutional investors and hedge funds.

Sandvik Stock Down 3.0%

Shares of OTCMKTS SDVKY opened at $38.80 on Wednesday. Sandvik has a 1 year low of $24.89 and a 1 year high of $44.53. The firm’s 50-day moving average is $38.76 and its 200-day moving average is $40.04. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $48.67 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.51.

Sandvik Company Profile

Sandvik (OTCMKTS: SDVKY) is a global engineering group headquartered in Sandviken, Sweden, with roots dating back to 1862 when it was founded by Göran Fredrik Göransson. The company designs, manufactures and services advanced products and solutions for the mining and construction industries, metalworking and material technology markets. Sandvik serves customers worldwide with a broad portfolio of industrial products, equipment and aftermarket services.

Sandvik’s core activities span three broad areas: metal-cutting and machining solutions, mining and rock excavation equipment, and specialty materials and components.