Sandvik (OTCMKTS:SDVKY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $21.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.55% from the stock’s previous close.
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 downgraded shares of Sandvik from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th.
A hedge fund recently raised its stake in Sandvik stock. Parametric Portfolio Associates LLC increased its holdings in Sandvik AB (OTCMKTS:SDVKY) by 14.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 665,023 shares of the industrial products company’s stock after buying an additional 83,981 shares during the period. Parametric Portfolio Associates LLC’s holdings in Sandvik were worth $10,521,000 as of its most recent SEC filing. 0.07% of the stock is owned by institutional investors and hedge funds.
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Sandvik AB (Sandvik) is an engineering company in mining and rock excavation, metal-cutting and materials technology. The Company is engaged in the developing, manufacturing and marketing processed products and services. Its segments include Sandvik Machining Solutions, Sandvik Mining and Rock Technology, Sandvik Materials Technology and Other Operations.
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