Sandvik AB (OTC:SDVKY) Receives a Downgrade
Shares of EU-listed Sandvik AB (OTC:SDVKY) Have been downgraded by research analysts at JP Morgan. JP Morgan lowered their rating for the $12.44 billion market cap company to a Underweight from their previous Neutral rating.
Approximately 2,701 shares of stock traded hands. Sandvik AB (ADR) (OTC:SDVKY) has declined 20.51% since May 1, 2015 and is downtrending. It has underperformed by 17.73% the S&P500.
Sandvik AB is an engineering company engaged in tooling, materials technology, mining and construction. The company has a market cap of $12.44 billion. The Firm is the parent firm of the Sandvik Group. It currently has negative earnings. The Firm has five business areas, including Sandvik Machining Solutions, Sandvik Mining, Sandvik Materials Technology, Sandvik Construction and Sandvik Venture.
According to Zacks Investment Research, “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.” Get a free copy of the Zacks research report on Sandvik AB (ADR) (SDVKY).