AB SKF (OTCMKTS:SKFRY) Shares Gap Down – What’s Next?

Shares of AB SKF (OTCMKTS:SKFRY) gapped down prior to trading on Monday . The stock had previously closed at $27.26, but opened at $25.65. AB SKF shares last traded at $25.49, with a volume of 797 shares changing hands.

Analysts Set New Price Targets

Several analysts have commented on SKFRY shares. Royal Bank Of Canada downgraded AB SKF from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 20th. Zacks Research upgraded AB SKF from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

AB SKF Trading Up 2.8%

The firm has a market cap of $11.81 billion, a PE ratio of 24.47, a P/E/G ratio of 1.96 and a beta of 1.18. The company’s fifty day moving average price is $25.95 and its two-hundred day moving average price is $26.15. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.23.

AB SKF (OTCMKTS:SKFRY) last issued its quarterly earnings results on Friday, July 17th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. AB SKF had a net margin of 5.05% and a return on equity of 13.48%. As a group, sell-side analysts forecast that AB SKF will post 1.8 earnings per share 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.