AB SKF (OTCMKTS:SKFRY) Shares Cross Below 50-Day Moving Average – Here’s Why

Shares of AB SKF (OTCMKTS:SKFRY) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $26.55 and traded as low as $23.38. AB SKF shares last traded at $24.06, with a volume of 33,126 shares.

Analyst Upgrades and Downgrades

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

AB SKF Stock Down 1.6%

The business has a 50-day moving average price of $26.42 and a 200 day moving average price of $26.18. The company has a current ratio of 2.11, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $10.99 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.62 and a beta of 1.17.

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