Zacks Research Downgrades AB SKF (OTCMKTS:SKFRY) to Strong Sell

AB SKF (OTCMKTS:SKFRY) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. 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. Deutsche Bank Aktiengesellschaft raised AB SKF from a “hold” rating to a “buy” rating in a research report on Tuesday, November 18th. BNP Paribas Exane raised AB SKF to a “hold” rating in a report on Tuesday, December 9th. Rothschild & Co Redburn cut AB SKF from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group lowered AB SKF from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, January 19th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce”.

AB SKF Price Performance

Shares of SKFRY stock opened at $28.98 on Tuesday. AB SKF has a fifty-two week low of $15.86 and a fifty-two week high of $29.01. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.20 and a current ratio of 2.16. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 1.89 and a beta of 1.15. The stock’s 50-day simple moving average is $27.12 and its 200-day simple moving average is $25.94.

AB SKF (OTCMKTS:SKFRY) last released its earnings results on Friday, January 30th. The industrial products company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.41 billion. AB SKF had a return on equity of 14.25% and a net margin of 4.20%. As a group, equities analysts forecast that AB SKF will post 1.51 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.