Zacks Investment Research upgraded shares of SANDVIK AB/ADR (OTCMKTS:SDVKY) from a sell rating to a buy rating in a report released on Tuesday morning, Zacks.com reports. They currently have $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. “
Separately, ValuEngine raised WPP from a sell rating to a hold rating in a report on Wednesday, June 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $20.00.
SANDVIK AB/ADR (OTCMKTS:SDVKY) last released its quarterly earnings results on Thursday, April 18th. The industrial products company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $2.73 billion during the quarter. SANDVIK AB/ADR had a return on equity of 23.82% and a net margin of 12.90%. As a group, research analysts expect that SANDVIK AB/ADR will post 1.2 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SDVKY. Parametric Portfolio Associates LLC raised its holdings in SANDVIK AB/ADR by 9.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,322,376 shares of the industrial products company’s stock worth $21,548,000 after purchasing an additional 109,485 shares during the period. Scout Investments Inc. raised its holdings in SANDVIK AB/ADR by 3.6% in the 2nd quarter. Scout Investments Inc. now owns 212,125 shares of the industrial products company’s stock worth $3,900,000 after purchasing an additional 7,402 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in SANDVIK AB/ADR by 39.9% in the 1st quarter. Quadrant Capital Group LLC now owns 15,533 shares of the industrial products company’s stock worth $249,000 after purchasing an additional 4,430 shares during the period.
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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