Sandvik AB (OTC:SDVKY) Receives a Downgrade
Barclays Capital has given Sandvik AB (OTC:SDVKY) shares a new “Underweight” rating in an interesting research report disseminated on 9 December. This was a decrease from the past “Equal Weight” rating.
From a total of 1 analysts covering Sandvik AB (ADR) (OTC: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 (ADR) was the topic of 2 analyst reports since October 9, 2015 according to the firm StockzIntelligence Inc. JP Morgan downgraded shares on December 4 to “Underweight” rating.
Approximately 576 shares of stock traded hands. Sandvik AB (ADR) (OTC:SDVKY) has declined 24.09% since May 6, 2015 and is downtrending. It has underperformed by 23.29% the S&P500.
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).