Sandvik (OTCMKTS:SDVKY) Shares Gap Down – Here’s What Happened
by Danessa Lincoln · The Markets DailySandvik AB (OTCMKTS:SDVKY – Get Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $40.54, but opened at $38.36. Sandvik shares last traded at $38.50, with a volume of 2,132 shares.
Wall Street Analyst Weigh In
SDVKY has been the subject of several analyst reports. Morgan Stanley cut shares of Sandvik from an “overweight” rating to an “equal weight” rating in a research note on Thursday. Citigroup reissued a “buy” rating on shares of Sandvik in a research report on Monday, January 12th. Jefferies Financial Group lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 25th. Barclays reiterated an “overweight” rating on shares of Sandvik in a research note on Wednesday, February 25th. Finally, Zacks Research downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.
View Our Latest Stock Analysis on Sandvik
Sandvik Price Performance
The stock has a market capitalization of $48.12 billion, a price-to-earnings ratio of 31.70, a P/E/G ratio of 1.61 and a beta of 1.48. The company’s 50-day simple moving average is $39.58 and its 200-day simple moving average is $33.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.94 and a quick ratio of 1.02.
Sandvik (OTCMKTS:SDVKY – Get Free Report) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.38 billion. Sandvik had a return on equity of 16.94% and a net margin of 12.16%. Research analysts forecast that Sandvik AB will post 1.27 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Sandvik
A hedge fund recently raised its stake in Sandvik stock. Salomon & Ludwin LLC lifted its holdings in Sandvik AB (OTCMKTS:SDVKY – Free Report) by 3,795.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 857 shares of the industrial products company’s stock after acquiring an additional 835 shares during the period. Salomon & Ludwin LLC’s holdings in Sandvik were worth $25,000 as of its most recent filing with the SEC. 0.74% of the stock is currently owned by hedge funds and other institutional investors.
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.