AB SKF (OTCMKTS:SKFRY) Shares Gap Down – Here’s Why

AB SKF (OTCMKTS:SKFRY)’s share price gapped down prior to trading on Friday . The stock had previously closed at $25.34, but opened at $24.2250. AB SKF shares last traded at $24.06, with a volume of 8,322 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SKFRY shares. Zacks Research downgraded shares of AB SKF from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. Rothschild & Co Redburn cut 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 AB SKF from a “hold” rating to a “moderate sell” rating in a report on Sunday, January 25th. The Goldman Sachs Group downgraded AB SKF from a “strong-buy” rating to a “strong sell” rating in a report on Monday, January 19th. Finally, BNP Paribas Exane raised AB SKF to a “hold” rating in a research note on Tuesday, December 9th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

AB SKF Stock Down 2.7%

The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.68 and a beta of 1.13. The stock has a 50 day simple moving average of $27.51 and a 200 day simple moving average of $26.38. The company has a quick ratio of 1.19, a current ratio of 2.11 and a debt-to-equity ratio of 0.25.

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