AB SKF (OTCMKTS:SKFRY) Hits New 12-Month High – What’s Next?

AB SKF (OTCMKTS:SKFRY) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.42 and last traded at $28.81, with a volume of 859 shares. The stock had previously closed at $28.30.

Analyst Upgrades and Downgrades

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

AB SKF Stock Up 2.0%

The business has a fifty day moving average of $26.73 and a 200 day moving average of $26.14. The company has a market capitalization of $13.15 billion, a PE ratio of 27.24, a PEG ratio of 1.91 and a beta of 1.17. The company has a current ratio of 2.19, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31.

AB SKF (OTCMKTS:SKFRY) last posted its quarterly earnings data on Friday, July 17th. The industrial products company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. AB SKF had a return on equity of 13.27% and a net margin of 5.05%.The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Equities research analysts anticipate that AB SKF will post 1.81 EPS for the current 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.