AB SKF (OTCMKTS:SKFRY) Sees Large Volume Increase – Here’s Why

AB SKF (OTCMKTS:SKFRY) saw unusually-high trading volume on Thursday . Approximately 46,354 shares traded hands during trading, an increase of 147% from the previous session’s volume of 18,793 shares.The stock last traded at $25.10 and had previously closed at $24.75.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lowered shares of AB SKF from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce”.

AB SKF Trading Up 0.5%

The stock’s 50 day moving average is $25.45 and its two-hundred day moving average is $26.19. The company has a market capitalization of $11.32 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. 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 released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. AB SKF had a net margin of 4.23% and a return on equity of 13.63%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.44 billion. As a group, sell-side analysts predict that AB SKF will post 1.81 EPS 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.