Zacks Investment Research upgraded shares of SANDVIK AB/ADR (OTCMKTS:SDVKY) from a hold rating to a buy rating in a research note released on Saturday, Zacks.com reports. The firm currently has $20.00 price objective on the industrial products company’s stock.
According to Zacks, “Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. “
A number of other brokerages have also commented on SDVKY. Morgan Stanley raised SANDVIK AB/ADR from an underweight rating to an overweight rating in a report on Wednesday, June 3rd. HSBC reaffirmed a buy rating on shares of SANDVIK AB/ADR in a report on Monday, May 11th. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of SANDVIK AB/ADR in a report on Thursday, June 25th. Deutsche Bank lowered SANDVIK AB/ADR from a buy rating to a hold rating in a report on Tuesday, April 14th. Finally, AlphaValue lowered SANDVIK AB/ADR to a buy rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. SANDVIK AB/ADR currently has a consensus rating of Buy and an average target price of $20.00.
SANDVIK AB/ADR (OTCMKTS:SDVKY) last posted its quarterly earnings results on Monday, April 20th. The industrial products company reported $0.22 earnings per share for the quarter. SANDVIK AB/ADR had a return on equity of 24.37% and a net margin of 7.15%. The business had revenue of $2.44 billion for the quarter. Equities analysts forecast that SANDVIK AB/ADR will post 0.93 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its holdings in shares of SANDVIK AB/ADR by 10.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,486,323 shares of the industrial products company’s stock worth $20,853,000 after purchasing an additional 144,290 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in SANDVIK AB/ADR by 11.1% in the fourth quarter. Quadrant Capital Group LLC now owns 11,847 shares of the industrial products company’s stock valued at $223,000 after buying an additional 1,187 shares in the last quarter. Finally, Colony Group LLC acquired a new stake in SANDVIK AB/ADR in the first quarter valued at about $161,000. 0.14% of the stock is currently owned by institutional investors.
SANDVIK AB/ADR Company Profile
Sandvik AB (publ) operates as an engineering company in the areas of mining and rock excavation, metal cutting, and materials technology worldwide. The company offers metal-cutting tools and tooling systems, including boring, drilling, milling, reaming, and turning tools, as well as tailor made tools and inserts, and tooling systems.
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