Zacks Research Downgrades AB SKF (OTCMKTS:SKFRY) to Hold

AB SKF (OTCMKTS:SKFRY) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

SKFRY has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised AB SKF from a “hold” rating to a “buy” rating in a report on Tuesday, November 18th. BNP Paribas 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 and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold”.

AB SKF Price Performance

Shares of SKFRY traded up $0.22 during trading hours on Monday, hitting $27.12. 1,643 shares of the company were exchanged, compared to its average volume of 8,291. The company has a quick ratio of 1.20, a current ratio of 2.16 and a debt-to-equity ratio of 0.26. AB SKF has a fifty-two week low of $15.86 and a fifty-two week high of $27.81. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 2.77 and a beta of 1.13. The firm’s fifty day moving average is $26.31 and its 200 day moving average is $25.34.

AB SKF (OTCMKTS:SKFRY) last announced its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. On average, equities analysts anticipate that AB SKF will post 1.51 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.