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

Sandvik AB (publ) (OTCMKTS:SDVKY - Get Free Report) was upgraded by investment analysts at Citigroup to a "strong-buy" rating in a report issued on Tuesday, Zacks.com reports.

Separately, Barclays raised 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) Price Performance

SDVKY traded down $0.20 during midday trading on Tuesday, hitting $20.33. The stock had a trading volume of 105,086 shares, compared to its average volume of 26,753. Sandvik AB has a 1 year low of $16.31 and a 1 year high of $23.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 1.58. The business has a fifty day moving average of $20.76 and a 200 day moving average of $20.90. The company has a market cap of $25.50 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 3.06 and a beta of 1.49.

Sandvik AB (publ) (OTCMKTS:SDVKY - Get Free Report) last announced its quarterly earnings data on Friday, July 19th. The industrial products company reported $0.29 earnings per share (EPS) 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%. As a group, equities analysts forecast that Sandvik AB will post 1.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers boosted its position in Sandvik AB (publ) (OTCMKTS:SDVKY - Free Report) by 11.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,045 shares of the industrial products company's stock after purchasing an additional 2,750 shares during the quarter. Rhumbline Advisers' holdings in Sandvik AB (publ) were worth $543,000 at the end of the most recent quarter. 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.