AB SKF (OTCMKTS:SKFRY) Shares Gap Up – Time to Buy?

AB SKF (OTCMKTS:SKFRY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $27.3750, but opened at $28.38. AB SKF shares last traded at $28.31, with a volume of 485 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research raised AB SKF from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

AB SKF Stock Up 2.2%

The company’s fifty day moving average is $26.69 and its 200-day moving average is $26.13. The company has a market cap of $12.92 billion, a PE ratio of 26.77, a PEG ratio of 1.91 and a beta of 1.17. The company has a quick ratio of 1.30, a current ratio of 2.19 and a debt-to-equity ratio of 0.31.

AB SKF (OTCMKTS:SKFRY) last issued its quarterly earnings data on Friday, July 17th. The industrial products company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.39 by $0.14. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. AB SKF had a return on equity of 13.27% and a net margin of 5.05%. On average, analysts predict that AB SKF will post 1.81 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.