AB SKF (OTCMKTS:SKFRY) Sees Large Drop in Short Interest

AB SKF (OTCMKTS:SKFRY) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 16,565 shares, a decrease of 36.0% from the September 15th total of 25,878 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 42,135 shares, the days-to-cover ratio is presently 0.4 days.

AB SKF Stock Down 1.6%

SKFRY stock opened at $27.02 on Friday. The firm has a 50-day moving average price of $27.70 and a 200-day moving average price of $26.50. AB SKF has a 12 month low of $22.26 and a 12 month high of $29.42. The company has a current ratio of 2.19, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $12.30 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19.

AB SKF (OTCMKTS:SKFRY) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $2.41 billion. AB SKF had a net margin of 5.05% and a return on equity of 13.27%. As a group, equities research analysts anticipate that AB SKF will post 1.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of AB SKF from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold”.

About AB SKF

AB SKF is a Swedish industrial technology company that designs and manufactures products and solutions for rotating equipment. Its offerings include bearings, seals, lubrication systems, condition-monitoring technologies, and related maintenance and engineering services. These products help customers improve equipment reliability, efficiency, and operating performance.

SKF serves a broad range of industries, including automotive, aerospace, energy, industrial manufacturing, mining, rail, and marine.