Sandvik AB (publ) (OTCMKTS:SDVKY) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

Sandvik AB (publ) (OTCMKTS:SDVKY) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $21.86 and traded as low as $18.12. Sandvik AB (publ) shares last traded at $18.17, with a volume of 90,672 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein upgraded shares of Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Sandvik AB (publ) presently has a consensus rating of “Moderate Buy”.

Sandvik AB (publ) Stock Performance

The business has a 50 day moving average of $21.86 and a 200-day moving average of $20.31. The company has a market capitalization of $22.79 billion, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 1.00 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 1.79.

Sandvik AB (publ) (OTCMKTS:SDVKY) last announced its quarterly earnings results on Thursday, January 23rd. The industrial products company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Sandvik AB (publ) had a return on equity of 16.07% and a net margin of 9.92%. On average, sell-side analysts predict that Sandvik AB will post 1.27 EPS for the current fiscal year.

Institutional Trading of Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. Rhumbline Advisers grew its stake in Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,707 shares of the industrial products company’s stock after buying an additional 3,607 shares during the period. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $585,000 at the end of the most recent reporting period. 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.