Barclays May Have Just Lost Faith in Sandvik AB (OTCMKTS:SDVKY)


Sandvik AB (OTCMKTS:SDVKY) Receives a Downgrade

Shares of Sandvik AB (OTCMKTS:SDVKY) were downgraded to a Underweight by investment advisers at Barclays. SDVKY’s rating of a Equal Weight has been discontinued.

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 8 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. JP Morgan downgraded shares on December 4 to “Underweight” rating. Zacks upgraded SDVKY stock in a recent report from September 22 to “Hold” rating.

Approximately 573 shares of stock traded hands. Sandvik AB (ADR) (OTCMKTS:SDVKY) has declined 24.09% since May 6, 2015 and is downtrending. It has underperformed by 23.29% the S&P500.

Barclays May Have Just Lost Faith in Sandvik AB (OTCMKTS:SDVKY)

Sandvik AB is an engineering company engaged in tooling, materials technology, mining and construction. The company has a market cap of $11.78 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).