AB SKF (OTCMKTS:SKFRY) Downgraded by The Goldman Sachs Group to Strong Sell

AB SKF (OTCMKTS:SKFRY) was downgraded by equities researchers at The Goldman Sachs Group from a “strong-buy” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. BNP Paribas upgraded shares of AB SKF to a “hold” rating in a research note on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft raised shares of AB SKF from a “hold” rating to a “buy” rating in a report on Tuesday, November 18th. Finally, Zacks Research cut shares of AB SKF from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AB SKF currently has a consensus rating of “Hold”.

AB SKF Stock Performance

OTCMKTS:SKFRY opened at $26.42 on Monday. The stock has a 50 day simple moving average of $26.37 and a 200 day simple moving average of $25.49. The stock has a market cap of $12.03 billion, a P/E ratio of 25.40, a PEG ratio of 2.84 and a beta of 1.13. AB SKF has a 1-year low of $15.86 and a 1-year high of $27.97. The company has a current ratio of 2.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.26.

AB SKF (OTCMKTS:SKFRY) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. AB SKF had a return on equity of 14.26% and a net margin of 5.07%.The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. Research analysts anticipate that AB SKF will post 1.51 earnings per share 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.