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

AB SKF (OTCMKTS:SKFRY)’s stock price reached a new 52-week high on Thursday . The company traded as high as $28.05 and last traded at $27.56, with a volume of 6529 shares. The stock had previously closed at $27.22.

Wall Street Analyst Weigh In

SKFRY has been the topic of several recent research reports. Zacks Research lowered shares of AB SKF from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. The Goldman Sachs Group cut AB SKF from a “strong-buy” rating to a “strong sell” rating in a report on Monday, January 19th. Rothschild Redb lowered AB SKF from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded AB SKF from a “hold” rating to a “buy” rating in a research report on Tuesday, November 18th. Finally, BNP Paribas Exane upgraded AB SKF to a “hold” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

AB SKF Stock Up 0.3%

The company has a quick ratio of 1.20, a current ratio of 2.16 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $26.52 and a 200-day simple moving average of $25.56. The company has a market cap of $12.81 billion, a PE ratio of 27.05, a P/E/G ratio of 2.86 and a beta of 1.13.

AB SKF (OTCMKTS:SKFRY) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.10. AB SKF had a return on equity of 14.26% and a net margin of 5.07%.The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. Equities research analysts anticipate that AB SKF will post 1.51 EPS for the current 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.