Short Interest in AB SKF (OTCMKTS:SKFRY) Drops By 55.7%

AB SKF (OTCMKTS:SKFRY) was the recipient of a large drop in short interest in August. As of August 14th, there was short interest totaling 20,970 shares, a drop of 55.7% from the July 30th total of 47,346 shares. Based on an average daily trading volume, of 24,539 shares, the short-interest ratio is currently 0.9 days. Currently, 0.0% of the shares of the stock are sold short.

AB SKF Trading Up 0.7%

OTCMKTS SKFRY traded up $0.19 during trading on Monday, hitting $29.11. The stock had a trading volume of 3,073 shares, compared to its average volume of 18,450. AB SKF has a twelve month low of $22.26 and a twelve month high of $29.42. The firm has a 50 day moving average price of $26.98 and a 200 day moving average price of $26.18. 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 company has a market capitalization of $13.26 billion, a PE ratio of 27.46, a PEG ratio of 1.99 and a beta of 1.17.

AB SKF (OTCMKTS:SKFRY) last announced its earnings results on Friday, July 17th. The industrial products company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. AB SKF had a net margin of 5.05% and a return on equity of 13.27%. As a group, equities research analysts forecast that AB SKF will post 1.81 earnings per share for the current year.

Analysts Set New Price Targets

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

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.