Sandvik AB (publ) (OTCMKTS:SDVKY) Share Price Passes Below 50 Day Moving Average – What’s Next?

Shares of Sandvik AB (publ) (OTCMKTS:SDVKY) crossed below its fifty day moving average during trading on Friday . The stock has a fifty 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.

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 note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Sandvik AB (publ) Price Performance

The business has a 50 day simple moving average of $21.86 and a two-hundred day simple moving average of $20.31. The firm 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 posted its quarterly earnings data on Thursday, January 23rd. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Sandvik AB (publ) had a net margin of 9.92% and a return on equity of 16.07%. On average, sell-side analysts expect that Sandvik AB will post 1.27 EPS for the current fiscal year.

Institutional Trading of Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers increased its position in Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,707 shares of the industrial products company’s stock after buying an additional 3,607 shares during the quarter. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $585,000 as of its most recent filing with the Securities & Exchange Commission. 0.74% of the stock is owned by hedge funds and other institutional investors.

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.