THE AB SKF (SKFRY) DOWNGRADED TO "HOLD" AT ZACKS INVESTMENT RESEARCH

Zacks Investment Research cut shares of AB SKF (OTCMKTS:SKFRY) from a buy rating to a hold rating in a report issued on Wednesday, October 10th.

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 analysts also recently weighed in on SKFRY. ValuEngine upgraded shares of AB SKF from a sell rating to a hold rating in a report on Thursday, July 26th. Barclays downgraded shares of AB SKF to a sell rating in a report on Wednesday, October 3rd. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $22.00.

SKFRY stock traded down $0.20 during mid-day trading on Wednesday, hitting $17.50. The company had a trading volume of 16,473 shares, compared to its average volume of 20,969. The stock has a market cap of $8.99 billion, a P/E ratio of 12.41, a PEG ratio of 1.59 and a beta of 0.49. AB SKF has a 12-month low of $17.10 and a 12-month high of $25.34. The company has a quick ratio of 1.31, a current ratio of 2.17 and a debt-to-equity ratio of 0.49.

AB SKF (OTCMKTS:SKFRY) last announced its quarterly earnings results on Thursday, July 19th. The industrial products company reported $0.49 EPS for the quarter. The business had revenue of $2.61 billion for the quarter. AB SKF had a net margin of 8.07% and a return on equity of 21.55%. On average, analysts anticipate that AB SKF will post 1.64 EPS for the current fiscal year.

AB SKF Company Profile

AB SKF (publ) offers bearings, seals, mechatronics, condition monitoring, lubrication systems, and services. It operates in two segments, Industrial and Automotive. The company's products include bearings, units, and housings; seals; lubrication solutions; linear motion systems; actuation systems, screws, and linear guides and tables; magnetic bearings/permanent magnetic electric motors; mechatronic solutions; maintenance products; condition monitoring systems; power transmission products and solutions; coupling systems; test and measurement equipment; and vehicle aftermarket products, such as wheel end, powertrain, driveline, and steering and suspension products, as well as tools and lubricants.