AB SKF (OTCMKTS:SKFRY) Short Interest Up 62.6% in July

Key Points

• AB SKF’s short interest rose 62.6% to 47,346 shares as of July 31, though that represents approximately 0.0% of shares outstanding and only 1.3 days to cover.
• Shares gained 1.1% to $27.90, while the company’s latest quarterly earnings of $0.53 per share exceeded expectations of $0.39; revenue of $2.40 billion was slightly below estimates.
• Analyst sentiment remains cautious, with one Buy, four Hold, and one Sell rating, resulting in a consensus rating of Hold.

AB SKF (OTCMKTS:SKFRY - Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 47,346 shares, a growth of 62.6% from the July 15th total of 29,127 shares. Based on an average daily volume of 35,284 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.0% of the shares of the stock are sold short.

AB SKF Trading Up 1.1%

Shares of AB SKF stock traded up $0.30 during trading on Monday, hitting $27.90. The company's stock had a trading volume of 5,204 shares, compared to its average volume of 18,908. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. AB SKF has a 52 week low of $22.26 and a 52 week high of $29.41. The stock has a 50-day moving average price of $26.48 and a two-hundred day moving average price of $26.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.19 and a quick ratio of 1.30.

AB SKF (OTCMKTS:SKFRY - Get Free Report) last announced its earnings results on Friday, July 17th. The industrial products company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.39 by $0.14. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. AB SKF had a return on equity of 13.27% and a net margin of 5.05%. Equities research analysts anticipate that AB SKF will post 1.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SKFRY. Zacks Research raised shares of AB SKF from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Royal Bank Of Canada cut AB SKF from a "moderate buy" rating to a "hold" rating in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, AB SKF currently has a consensus rating of "Hold".

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.

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