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

AB SKF (OTCMKTS:SKFRY)’s stock price gapped down before the market opened 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.

Several other equities analysts also recently issued reports on the stock. BNP Paribas Exane upgraded shares of AB SKF to a “hold” rating in a research note on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft raised AB SKF from a “hold” rating to a “buy” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group downgraded AB SKF from a “strong-buy” rating to a “strong sell” rating in a research note on Monday. Finally, Zacks Research cut AB SKF from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

AB SKF Price Performance

The company has a market cap of $12.81 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.78 and a beta of 1.13. The company’s 50 day moving average price is $26.52 and its 200 day moving average price is $25.56. The company has a current ratio of 2.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.26.

AB SKF (OTCMKTS:SKFRY) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.29 billion. Equities research analysts forecast that AB SKF will post 1.51 earnings per share 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.