AB SKF (OTCMKTS:SKFRY) Hits New 12-Month High – Here’s What Happened

AB SKF (OTCMKTS:SKFRY)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $29.41 and last traded at $29.41, with a volume of 220 shares changing hands. The stock had previously closed at $29.02.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SKFRY. Zacks Research downgraded AB SKF from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 10th. The Goldman Sachs Group downgraded shares of AB SKF from a “strong-buy” rating to a “strong sell” rating in a report on Monday, January 19th. Jefferies Financial Group downgraded shares of AB SKF from a “hold” rating to a “moderate sell” rating in a research report on Sunday, January 25th. Deutsche Bank Aktiengesellschaft raised shares of AB SKF from a “hold” rating to a “buy” rating in a research note on Tuesday, November 18th. Finally, BNP Paribas Exane raised AB SKF to a “hold” rating in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

AB SKF Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.11 and a quick ratio of 1.19. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 1.93 and a beta of 1.15. The stock’s 50 day simple moving average is $27.51 and its 200-day simple moving average is $26.27.

AB SKF (OTCMKTS:SKFRY) last released its quarterly earnings results on Friday, January 30th. The industrial products company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.41 billion. AB SKF had a net margin of 4.20% and a return on equity of 14.27%. On average, analysts expect 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.