AB SKF (publ) (OTCMKTS:SKFRY) Short Interest Down 78.5% in August

AB SKF (publ) (OTCMKTS:SKFRY) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 2,900 shares, a decline of 78.5% from the August 15th total of 13,500 shares. Based on an average daily volume of 33,200 shares, the days-to-cover ratio is presently 0.1 days.

Shares of OTCMKTS:SKFRY traded up $0.08 during midday trading on Wednesday, hitting $24.46. 71,647 shares of the stock were exchanged, compared to its average volume of 12,644. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 14.39 and a beta of 1.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.48 and a current ratio of 2.33. The business’s 50-day moving average price is $25.63 and its 200 day moving average price is $26.91. AB SKF has a 12 month low of $19.19 and a 12 month high of $30.50.

AB SKF (publ) (OTCMKTS:SKFRY) last released its quarterly earnings results on Tuesday, July 20th. The industrial products company reported $0.61 earnings per share for the quarter. The company had revenue of $2.46 billion for the quarter. AB SKF (publ) had a return on equity of 20.79% and a net margin of 8.38%. As a group, sell-side analysts expect that AB SKF will post 1.93 EPS for the current year.

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of AB SKF (publ) in a research note on Thursday, July 22nd. Zacks Investment Research cut AB SKF (publ) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 4th. Morgan Stanley cut AB SKF (publ) from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, May 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of AB SKF (publ) in a research report on Wednesday, July 21st. Finally, Jefferies Financial Group upgraded AB SKF (publ) from an “underperform” rating to a “hold” rating in a research report on Friday, July 2nd. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.08.

About AB SKF (publ)

SKF AB engages in the manufacture of machine and rotating equipment. It operates through the Industrial and Automotive segments. The Industrial segment comprises of Industrial Sales Americas, Industrial Sales Europe and Middle East and Africa, Industrial Sales Asia, Industrial Units, Bearing Operations, and Aerospace.

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