AB SKF (OTCMKTS:SKFRY) Trading Up 1% - Time to Buy?

Key Points

• AB SKF's stock rose by 1% during Monday's trading, with shares last priced at $23.25 after hitting a high of $23.78.
• Barclays downgraded AB SKF's rating from "strong-buy" to "hold" in a recent analyst note, indicating a potential shift in market sentiment.
• The company reported earnings per share of $0.52 for the last quarter, exceeding analysts' expectations, and has a forecast of 1.51 earnings per share for the current fiscal year.

AB SKF (OTCMKTS:SKFRY - Get Free Report) shares traded up 1% during trading on Monday . The company traded as high as $23.78 and last traded at $23.25. 16,509 shares changed hands during trading, an increase of 32% from the average session volume of 12,536 shares. The stock had previously closed at $23.03.

Analyst Ratings Changes

Separately, Barclays cut shares of AB SKF from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th.

AB SKF Trading Up 1.0%

The business's 50 day moving average price is $22.87 and its two-hundred day moving average price is $21.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.13 and a current ratio of 1.96. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 2.18 and a beta of 1.17.

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