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

AB SKF (OTCMKTS:SKFRY)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $25.52, but opened at $27.10. AB SKF shares last traded at $27.12, with a volume of 6,688 shares.

Analysts Set New Price Targets

A number of brokerages recently commented on SKFRY. Zacks Research upgraded AB SKF from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Royal Bank Of Canada lowered shares of AB SKF from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 20th. One investment 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’s stock. Based on data from MarketBeat, AB SKF presently has a consensus rating of “Hold”.

AB SKF Price Performance

The stock has a market capitalization of $12.32 billion, a PE ratio of 30.74, a P/E/G ratio of 2.10 and a beta of 1.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.09 and a quick ratio of 1.18. The stock’s fifty day moving average is $25.61 and its 200-day moving average is $26.13.

AB SKF (OTCMKTS:SKFRY) last released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.44 billion. AB SKF had a net margin of 4.23% and a return on equity of 13.63%. As a group, equities analysts predict that AB SKF will post 1.8 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.