AB SKF (SKFRY) Stock Rating Lowered by Zacks Investment Research

AB SKF (OTCMKTS:SKFRY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

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. “
Several other equities research analysts also recently weighed in on SKFRY. ValuEngine raised AB SKF from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Barclays downgraded AB SKF to a “sell” rating in a research report on Wednesday, October 3rd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $22.00.
SKFRY traded down $0.08 during midday trading on Wednesday, hitting $18.35. 25,503 shares of the company were exchanged, compared to its average volume of 20,676. The company has a market capitalization of $8.99 billion, a P/E ratio of 13.01, a P/E/G ratio of 1.59 and a beta of 0.49. 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 has a 1-year low of $17.83 and a 1-year high of $25.34.
AB SKF (OTCMKTS:SKFRY) last announced its quarterly earnings results on Thursday, July 19th. The industrial products company reported $0.49 earnings per share for the quarter. The company had revenue of $2.61 billion for the quarter. AB SKF had a return on equity of 21.55% and a net margin of 8.07%. Analysts forecast that AB SKF will post 1.64 EPS for the current year.