Sandvik AB (OTCMKTS:SDVKY) – Research analysts at Jefferies Group lifted their FY2017 EPS estimates for Sandvik in a research report issued to clients and investors on Friday. Jefferies Group analyst G. Phillips now forecasts that the industrial products company will post earnings per share of $0.88 for the year, up from their previous estimate of $0.81. Jefferies Group also issued estimates for Sandvik’s Q4 2017 earnings at $0.19 EPS, FY2018 earnings at $0.93 EPS and FY2019 earnings at $1.01 EPS.
Several other analysts also recently commented on the stock. Zacks Investment Research raised shares of Sandvik from a “sell” rating to a “buy” rating and set a $21.00 target price for the company in a report on Friday. ValuEngine upgraded shares of Sandvik from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st.
A hedge fund recently raised its stake in Sandvik stock. Parametric Portfolio Associates LLC grew its position in Sandvik AB (OTCMKTS:SDVKY) by 11.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 735,941 shares of the industrial products company’s stock after buying an additional 76,252 shares during the quarter. Parametric Portfolio Associates LLC owned 0.06% of Sandvik worth $12,761,000 as of its most recent SEC filing. 0.07% of the stock is currently owned by institutional investors and hedge funds.
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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