AB SKF (OTCMKTS:SKFRY) Shares Gap Up – Here’s What Happened

AB SKF (OTCMKTS:SKFRY) gapped up prior to trading on Thursday . The stock had previously closed at $25.52, but opened at $27.10. AB SKF shares last traded at $27.12, with a volume of 6,688 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SKFRY. Royal Bank Of Canada cut shares of AB SKF from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 20th. Zacks Research upgraded 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 issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

AB SKF Stock Performance

The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.23. The stock’s 50-day simple moving average is $25.54 and its 200 day simple moving average is $26.13.

AB SKF (OTCMKTS:SKFRY) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. AB SKF had a net margin of 4.23% and a return on equity of 13.63%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.44 billion. Analysts expect that AB SKF will post 1.8 earnings per share for the current fiscal 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.