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

AB SKF (OTCMKTS:SKFRY)’s share price 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 trading hands. The stock had previously closed at $28.30.

Analyst Upgrades and Downgrades

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

AB SKF Stock Performance

The company has a quick ratio of 1.30, a current ratio of 2.19 and a debt-to-equity ratio of 0.31. The stock 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 firm has a 50 day moving average price of $26.73 and a 200-day moving average price of $26.14.

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