AB SKF (OTCMKTS:SKFRY) Shares Gap Up – Here’s What Happened

AB SKF (OTCMKTS:SKFRY) shares gapped up before the market opened on Thursday . The stock had previously closed at $23.94, but opened at $25.09. AB SKF shares last traded at $25.1550, with a volume of 3,296 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Rothschild & Co Redburn downgraded shares of AB SKF from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 21st. Jefferies Financial Group downgraded shares of AB SKF from a “hold” rating to a “moderate sell” rating in a research note on Sunday, January 25th. The Goldman Sachs Group downgraded shares of AB SKF from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Zacks Research downgraded shares of AB SKF from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, AB SKF currently has a consensus rating of “Reduce”.

AB SKF Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.11 and a quick ratio of 1.19. The stock has a market capitalization of $11.48 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.59 and a beta of 1.17. The stock’s 50 day simple moving average is $26.09 and its 200-day simple moving average is $26.16.

AB SKF (OTCMKTS:SKFRY) last announced its quarterly earnings data on Friday, January 30th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.41 billion. AB SKF had a net margin of 4.20% and a return on equity of 14.27%. On average, analysts expect that AB SKF will post 1.51 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.