AB SKF (OTCMKTS:SKFRY) Hits New 52-Week High – Time to Buy?

AB SKF (OTCMKTS:SKFRY) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $28.95 and last traded at $28.8750, with a volume of 4199 shares trading hands. The stock had previously closed at $28.5630.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Jefferies Financial Group downgraded shares of AB SKF from a “hold” rating to a “moderate sell” rating in a research report on Sunday, January 25th. BNP Paribas Exane upgraded shares of AB SKF to a “hold” rating in a research note on Tuesday, December 9th. Rothschild & Co Redburn cut AB SKF from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded AB SKF from a “hold” rating to a “buy” rating in a research report on Tuesday, November 18th. Finally, Zacks Research cut AB SKF from a “hold” rating to a “strong sell” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

AB SKF Trading Down 1.3%

The company has a current ratio of 2.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $27.19 and a 200-day moving average price of $25.99. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 1.92 and a beta of 1.15.

AB SKF (OTCMKTS:SKFRY) last announced its quarterly earnings data on Friday, January 30th. The industrial products company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.41 billion. AB SKF had a net margin of 4.20% and a return on equity of 14.25%. As a group, sell-side analysts predict that AB SKF will post 1.51 EPS 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.