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

AB SKF (OTCMKTS:SKFRY) was the recipient of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 5,054 shares, a decline of 83.1% from the May 14th total of 29,922 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 37,846 shares, the short-interest ratio is presently 0.1 days.

AB SKF Price Performance

OTCMKTS:SKFRY traded down $0.64 during mid-day trading on Wednesday, reaching $24.90. The stock had a trading volume of 6,001 shares, compared to its average volume of 18,886. The stock has a 50-day simple moving average of $25.41 and a two-hundred day simple moving average of $26.19. The stock has a market capitalization of $11.34 billion, a PE ratio of 28.30, a P/E/G ratio of 2.00 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. AB SKF has a 12 month low of $21.37 and a 12 month high of $29.41.

AB SKF (OTCMKTS:SKFRY) last released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The business 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%. On average, equities analysts anticipate that AB SKF will post 1.81 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on SKFRY. Zacks Research downgraded shares of AB SKF from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 10th. Royal Bank Of Canada downgraded shares of AB SKF from a “moderate buy” rating to a “hold” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, AB SKF presently has an average rating of “Reduce”.

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.