Sandvik AB (publ) (OTCMKTS:SDVKY) Earns Underweight Rating from Analysts at Barclays

Barclays initiated coverage on shares of Sandvik AB (publ) (OTCMKTS:SDVKY) in a report published on Tuesday, Marketbeat reports. The brokerage issued an underweight rating on the industrial products company’s stock.

A number of other equities research analysts also recently commented on SDVKY. Sanford C. Bernstein downgraded shares of Sandvik AB (publ) from an outperform rating to a market perform rating in a research report on Monday, September 4th. Handelsbanken raised shares of Sandvik AB (publ) from a market perform rating to an outperform rating in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $193.00.

Sandvik AB (publ) Price Performance

Shares of SDVKY opened at $18.27 on Tuesday. The company has a market capitalization of $22.92 billion, a P/E ratio of 23.42 and a beta of 1.48. The company has a quick ratio of 0.95, a current ratio of 1.62 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $19.25 and a 200 day moving average of $19.64. Sandvik AB has a twelve month low of $12.81 and a twelve month high of $21.89.

Sandvik AB (publ) (OTCMKTS:SDVKY) last announced its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. The company had revenue of $3.06 billion during the quarter. Sandvik AB (publ) had a net margin of 8.38% and a return on equity of 18.75%. As a group, equities research analysts anticipate that Sandvik AB will post 1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank purchased a new position in shares of Sandvik AB (publ) during the 2nd quarter worth $377,000. OLD Mission Capital LLC purchased a new position in shares of Sandvik AB (publ) during the 1st quarter worth $201,000. Captrust Financial Advisors boosted its stake in shares of Sandvik AB (publ) by 15.6% during the 2nd quarter. Captrust Financial Advisors now owns 8,385 shares of the industrial products company’s stock worth $136,000 after acquiring an additional 1,131 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Sandvik AB (publ) during the 1st quarter worth $41,000.

About Sandvik AB (publ)

Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, rock processing, and metal cutting 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.