AB SKF (OTCMKTS:SKFRY) Shares Gap Down – Here’s Why

AB SKF (OTCMKTS:SKFRY) gapped down prior to trading on Friday . The stock had previously closed at $25.34, but opened at $24.2250. AB SKF shares last traded at $24.06, with a volume of 8,322 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on SKFRY shares. The Goldman Sachs Group lowered shares of AB SKF from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, January 19th. Rothschild & Co Redburn lowered AB SKF from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 21st. Jefferies Financial Group cut AB SKF from a “hold” rating to a “moderate sell” rating in a research report on Sunday, January 25th. Zacks Research lowered AB SKF from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. Finally, BNP Paribas Exane raised AB SKF to a “hold” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, AB SKF has an average rating of “Reduce”.

AB SKF Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.11. The stock has a market cap of $10.87 billion, a PE ratio of 27.76, a PEG ratio of 1.68 and a beta of 1.13. The company’s 50-day moving average price is $27.51 and its two-hundred day moving average price is $26.38.

AB SKF (OTCMKTS:SKFRY) last announced its earnings results on Friday, January 30th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.41 billion. AB SKF had a return on equity of 14.27% and a net margin of 4.20%. On average, equities research analysts forecast that AB SKF will post 1.51 EPS for the current 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.