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Zacks Investment Research Lowers AB SKF (OTCMKTS:SKFRY) to S


AB SKF (OTCMKTS:SKFRY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, June 8th. 

According to Zacks, “SKF AB engages in the manufacturing of ball and roller bearings, seals, tools for mounting/dismounting bearings, lubricants and measuring/monitoring instruments. It also produces roller bearing steel and other special steels. The Company operates in three divisions: Industrial Division, Service Division and Automotive Division. It also offers products and knowledge-based services comprising hardware and software, consulting, mechanical services, predictive and preventive maintenance, condition monitoring, decision-support systems and performance-based contracts. SKF AB is headquartered in Gothenburg, Sweden. “

A number of other equities analysts also recently weighed in on the stock. ValuEngine downgraded shares of AB SKF from a “hold” rating to a “sell” rating in a research note on Tuesday, June 5th. Deutsche Bank raised shares of AB SKF from a “hold” rating to a “buy” rating in a research note on Wednesday, April 11th. Finally, Berenberg Bank raised shares of AB SKF from a “sell” rating to a “hold” rating in a research note on Thursday, March 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $24.00.

Shares of AB SKF traded down $0.38, hitting $18.44, during trading hours on Friday, Marketbeat reports. 17,968 shares of the company’s stock traded hands, compared to its average volume of 23,898. The company has a market capitalization of $8.57 billion, a P/E ratio of 13.08, a PEG ratio of 1.48 and a beta of 0.62. AB SKF has a 12 month low of $18.31 and a 12 month high of $25.34. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.31 and a current ratio of 2.17. 

AB SKF (OTCMKTS:SKFRY) last announced its earnings results on Thursday, April 26th. The industrial products company reported $0.47 earnings per share for the quarter. AB SKF had a net margin of 7.36% and a return on equity of 19.75%. The business had revenue of $2.54 billion during the quarter. sell-side analysts forecast that AB SKF will post 1.65 earnings per share for the current fiscal year. 



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