AB SKF (OTCMKTS:SKFRY) Shares Gap Down – Here’s Why

Shares of AB SKF (OTCMKTS:SKFRY) gapped down before the market opened on Monday . The stock had previously closed at $27.26, but opened at $25.65. AB SKF shares last traded at $25.49, with a volume of 797 shares traded.

Analysts Set New Price Targets

SKFRY has been the subject of a number of research analyst reports. Zacks Research upgraded shares of AB SKF from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Royal Bank Of Canada downgraded shares of AB SKF from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 20th. 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

AB SKF Stock Performance

The company has a 50-day moving average of $25.94 and a 200-day moving average of $26.16. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 2.02 and a beta of 1.18. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23.

AB SKF (OTCMKTS:SKFRY) last released its earnings results on Friday, July 17th. The industrial products company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.14. The firm had revenue of $2.40 billion during 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 13.48%. On average, equities research analysts forecast that AB SKF will post 1.8 earnings per share 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.