AB SKF (OTCMKTS:SKFRY) Sees Large Volume Increase - Here's Why

Key Points

• Shares saw a 110% increase in trading volume to 28,148 shares on Monday, with the stock last trading at $24.085 (previous close $23.52).
• Multiple recent analyst downgrades have left the stock with a consensus "Reduce" rating (one Buy, three Hold, two Sell).
• In the latest quarter AB SKF reported EPS $0.37, missing estimates of $0.41, while revenue of $2.48 billion beat expectations of $2.41 billion.

Shares of AB SKF (OTCMKTS:SKFRY - Get Free Report) saw an uptick in trading volume on Monday . 28,148 shares traded hands during trading, an increase of 110% from the previous session's volume of 13,406 shares.The stock last traded at $24.0850 and had previously closed at $23.52.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Zacks Research downgraded AB SKF from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 10th. Rothschild & Co Redburn downgraded AB SKF from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded AB SKF from a "hold" rating to a "buy" rating in a report on Tuesday, November 18th. Jefferies Financial Group cut AB SKF from a "hold" rating to a "moderate sell" rating in a research report on Sunday, January 25th. Finally, The Goldman Sachs Group downgraded AB SKF from a "strong-buy" rating to a "strong sell" rating in a report on Monday, January 19th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce".

AB SKF Price Performance

The company has a market capitalization of $11.02 billion, a P/E ratio of 28.15, a PEG ratio of 1.56 and a beta of 1.13. The stock's fifty day simple moving average is $27.44 and its 200-day simple moving average is $26.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.11 and a quick ratio of 1.19.

AB SKF (OTCMKTS:SKFRY - Get Free Report) last posted 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). AB SKF had a return on equity of 14.27% and a net margin of 4.20%.The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.41 billion. On average, equities analysts forecast that AB SKF will post 1.51 earnings per share for the current fiscal year.

About AB SKF

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.

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