Is Sandvik AB (OTCMKTS:SDVKY) Now a Sell? Why did JP Morgan Downgrade The Stock?


Sandvik AB (OTCMKTS:SDVKY) Receives a Downgrade

In a note issued to clients and investors on Friday, 4 December, JP Morgan announced that they will be downgrading shares of Sandvik AB (OTCMKTS:SDVKY) from a Neutral to a Underweight rating.

From a total of 1 analysts covering Sandvik AB (OTCMKTS:SDVKY) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 0% of the ratings are positive. Sandvik AB was the topic of 7 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Jefferies upgraded shares on October 9 to “Hold” rating. JP Morgan upgraded SDVKY stock in a recent report from August 10 to “Underweight” rating.

Approximately 10,701 shares of stock traded hands or 7.19% up from the average. Sandvik AB (ADR) (OTCMKTS:SDVKY) has declined 20.51% since May 1, 2015 and is downtrending. It has underperformed by 17.73% the S&P500.

Is Sandvik AB (OTCMKTS:SDVKY) Now a Sell? Why did JP Morgan Downgrade The Stock?

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).