AB SKF (OTCMKTS:SKFRY) Shares Gap Down on Analyst Downgrade

Shares of AB SKF (OTCMKTS:SKFRY) gapped down prior to trading on Wednesday after Rothschild Redb downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $27.78, but opened at $26.95. AB SKF shares last traded at $26.91, with a volume of 1,887 shares traded.

Other equities research analysts have also recently issued research reports about the stock. Zacks Research cut shares of AB SKF from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. The Goldman Sachs Group cut shares of AB SKF from a “strong-buy” rating to a “strong sell” rating in a report on Monday. Deutsche Bank Aktiengesellschaft upgraded 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 shares of AB SKF to a “hold” rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold”.

AB SKF Stock Performance

The company has a market capitalization of $12.81 billion, a PE ratio of 27.05, a PEG ratio of 2.78 and a beta of 1.13. The firm has a 50-day moving average of $26.52 and a two-hundred day moving average of $25.56. 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 (OTCMKTS:SKFRY) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $0.42 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.29 billion. Research analysts anticipate that AB SKF will post 1.51 EPS for the current year.

AB SKF Company Profile

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.