AB SKF (OTCMKTS:SKFRY) Sees Large Growth in Short Interest

AB SKF (OTCMKTS:SKFRY) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 47,346 shares, an increase of 62.6% from the July 15th total of 29,127 shares. Based on an average daily volume of 35,284 shares, the short-interest ratio is currently 1.3 days. Currently, 0.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of AB SKF from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

AB SKF Trading Down 1.8%

OTCMKTS:SKFRY opened at $27.33 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.19 and a debt-to-equity ratio of 0.31. AB SKF has a 1-year low of $22.26 and a 1-year high of $29.41. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. The stock has a fifty day simple moving average of $26.55 and a 200 day simple moving average of $26.12.

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