Sandvik AB (publ) (OTCMKTS:SDVKY) Price Target Increased to SEK 290 by Analysts at Credit Suisse Group

Sandvik AB (publ) (OTCMKTS:SDVKY) had its target price hoisted by investment analysts at Credit Suisse Group from SEK 275 to SEK 290 in a research note issued on Thursday, The Fly reports.

Several other equities analysts have also issued reports on SDVKY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik AB (publ) in a research note on Wednesday, September 29th. Exane BNP Paribas upgraded Sandvik AB (publ) from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 17th. JPMorgan Chase & Co. lifted their price target on Sandvik AB (publ) from SEK 270 to SEK 285 and gave the company a “sell” rating in a research note on Friday, January 7th. Sanford C. Bernstein started coverage on Sandvik AB (publ) in a research note on Tuesday, December 7th. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research lowered Sandvik AB (publ) from a “hold” rating to a “sell” rating in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Sandvik AB (publ) presently has a consensus rating of “Hold” and an average target price of $201.33.

OTCMKTS SDVKY opened at $27.66 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $34.69 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.43 and a beta of 1.29. Sandvik AB has a 12-month low of $22.64 and a 12-month high of $29.06. The firm has a 50-day moving average price of $26.69 and a two-hundred day moving average price of $25.77.

Sandvik AB (publ) (OTCMKTS:SDVKY) last posted its quarterly earnings data on Monday, October 18th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter. The firm had revenue of $2.87 billion during the quarter. Sandvik AB (publ) had a net margin of 14.32% and a return on equity of 20.04%. Equities analysts expect that Sandvik AB will post 1.26 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Scout Investments Inc. bought a new stake in shares of Sandvik AB (publ) in the 3rd quarter valued at about $3,428,000. Fisher Asset Management LLC lifted its stake in shares of Sandvik AB (publ) by 37.4% in the 3rd quarter. Fisher Asset Management LLC now owns 6,911,901 shares of the industrial products company’s stock valued at $158,961,000 after purchasing an additional 1,881,019 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of Sandvik AB (publ) in the 3rd quarter valued at about $52,000. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Sandvik AB (publ) by 3.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,844,075 shares of the industrial products company’s stock valued at $47,301,000 after purchasing an additional 59,435 shares during the period. Hedge funds and other institutional investors own 0.57% of the company’s stock.

About Sandvik AB (publ)

Sandvik AB engages in the development, manufacture, and sale of tools, equipment, and tooling systems for the mining and construction industries. It operates through the following segments: Sandvik Machining Solutions, Sandvik Mining and Rock Technology, Sandvik Materials Technology, and Other Operations.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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Analyst Recommendations for Sandvik AB (publ) (OTCMKTS:SDVKY)

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