AB SKF (OTCMKTS:SKFRY) Reaches New 1-Year High – Here’s What Happened

AB SKF (OTCMKTS:SKFRY) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $28.05 and last traded at $27.56, with a volume of 6529 shares traded. The stock had previously closed at $27.22.

Wall Street Analysts Forecast Growth

SKFRY has been the topic of several research reports. Zacks Research lowered shares of AB SKF from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Rothschild Redb cut shares of AB SKF from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded AB SKF from a “hold” rating to a “buy” rating in a report on Tuesday, November 18th. The Goldman Sachs Group downgraded AB SKF from a “strong-buy” rating to a “strong sell” rating in a research note on Monday. Finally, BNP Paribas Exane raised AB SKF to a “hold” rating in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

AB SKF Trading Up 3.0%

The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.13. 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 company has a fifty day moving average of $26.41 and a two-hundred day moving average of $25.51.

AB SKF (OTCMKTS:SKFRY) last released 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. AB SKF had a net margin of 5.07% and a return on equity of 14.26%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. On average, research analysts expect that AB SKF will post 1.51 EPS for the current year.

AB SKF Company Profile

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.