AB SKF (OTCMKTS:SKFRY) Trading 1.1% Higher - Here's What Happened

Key Points

• AB SKF shares saw an increase of 1.1%, trading at $24.97, despite a 20% decrease in trading volume compared to the average.
• Zacks Research upgraded AB SKF from a "hold" rating to a "strong-buy" rating, contributing to an overall average rating of "Moderate Buy."
• The company reported $0.52 earnings per share for its last quarter, exceeding analysts' expectations of $0.43, along with a revenue of $2.37 billion.

AB SKF (OTCMKTS:SKFRY - Get Free Report) shares traded up 1.1% during mid-day trading on Tuesday . The stock traded as high as $24.97 and last traded at $24.97. 7,905 shares traded hands during trading, a decline of 20% from the average session volume of 9,914 shares. The stock had previously closed at $24.70.

Analysts Set New Price Targets

Separately, Zacks Research raised AB SKF from a "hold" rating to a "strong-buy" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

AB SKF Trading Up 1.1%

The company has a quick ratio of 1.13, a current ratio of 1.96 and a debt-to-equity ratio of 0.26. The company has a market cap of $11.37 billion, a PE ratio of 22.10, a P/E/G ratio of 1.60 and a beta of 1.17. The stock's 50 day moving average is $24.91 and its 200-day moving average is $22.41.

AB SKF (OTCMKTS:SKFRY - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.09. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $22.91 billion. AB SKF had a net margin of 5.54% and a return on equity of 14.26%. As a group, sell-side analysts anticipate that AB SKF will post 1.51 EPS for the current year.

About AB SKF

AB SKF (publ) designs, manufactures, and sells bearings and units, seals, lubrication systems, condition monitoring, and services worldwide. It operates in two segments, Industrial and Automotive. The company offers rolling, mounted and housings, super-precision, slewing, plain, magnetic, and thin section bearings; industrial and automotive seals; lubricants, manual lubrication tools, lubricators, automatic lubrication systems, and lubrication system components; maintenance products, such as hydraulic, mechanical, and alignment tools, as well as heaters; belts, pulleys, chains, sprockets, bushings and hubs, couplings, and bolts and tightening systems; condition monitoring systems; test and measuring equipment, such as waviness and roundness analyzers, noise and vibration testers, and grease test rigs, as well as calibration with traceability, machine training and support, and upgrades and refurbishment services; and vehicle aftermarket products.

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