AB SKF (OTCMKTS:SKFRY) Shares Gap Up – Here’s What Happened

Shares of AB SKF (OTCMKTS:SKFRY) gapped up prior to trading on Monday . The stock had previously closed at $27.3750, but opened at $28.38. AB SKF shares last traded at $28.31, with a volume of 485 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of AB SKF from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, AB SKF has a consensus rating of “Hold”.

AB SKF Trading Up 2.2%

The stock has a market cap of $12.92 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.91 and a beta of 1.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.19. The stock’s fifty day moving average is $26.69 and its 200 day moving average is $26.13.

AB SKF (OTCMKTS:SKFRY) last issued its quarterly earnings data on Friday, July 17th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. AB SKF had a return on equity of 13.27% and a net margin of 5.05%.The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. As a group, equities research analysts predict that AB SKF will post 1.81 earnings per share 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.