AB SKF (OTCMKTS:SKFRY) Reaches New 1-Year High – Here’s What Happened

AB SKF (OTCMKTS:SKFRY) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.42 and last traded at $28.81, with a volume of 859 shares. The stock had previously closed at $28.30.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded AB SKF from a “strong sell” rating to a “hold” rating in a research report 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, AB SKF presently has a consensus rating of “Hold”.

AB SKF Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.19. The company’s 50 day moving average price is $26.86 and its 200-day moving average price is $26.16. The company has a market cap of $13.16 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.98 and a beta of 1.17.

AB SKF (OTCMKTS:SKFRY) last issued its earnings results on Friday, July 17th. The industrial products company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. The firm 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%. On average, equities research analysts forecast that AB SKF will post 1.81 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.