AB SKF (OTCMKTS:SKFRY) Hits New 1-Year High – Here’s Why

AB SKF (OTCMKTS:SKFRY) reached a new 52-week high on Wednesday . The company traded as high as $28.75 and last traded at $28.75, with a volume of 5006 shares changing hands. The stock had previously closed at $28.33.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded AB SKF from a “hold” rating to a “buy” rating in a research report on Tuesday, November 18th. BNP Paribas Exane raised shares of AB SKF to a “hold” rating in a research note on Tuesday, December 9th. Zacks Research lowered shares of AB SKF from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Jefferies Financial Group downgraded AB SKF from a “hold” rating to a “moderate sell” rating in a report on Sunday. Finally, The Goldman Sachs Group cut AB SKF from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

AB SKF Stock Performance

The company has a current ratio of 2.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $13.09 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 2.89 and a beta of 1.13. The business’s 50 day simple moving average is $26.66 and its two-hundred day simple moving average is $25.67.

AB SKF (OTCMKTS:SKFRY) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. AB SKF had a net margin of 5.07% and a return on equity of 14.26%. Sell-side analysts anticipate that AB SKF will post 1.51 EPS for the current fiscal year.

About AB SKF

AB SKF (OTCMKTS:SKFRY) is a leading global supplier of bearing and seal solutions, offering a comprehensive portfolio that includes rolling bearings, plain bearings, mechatronics, lubrication systems and services. The company’s products are designed to improve the reliability, efficiency and performance of rotating equipment in a wide range of applications, from heavy industry and energy to aerospace and automotive.

Founded in 1907 and headquartered in Gothenburg, Sweden, SKF introduced the world’s first self-aligning ball bearing and has since grown into a truly global organization.