AB SKF (OTCMKTS:SKFRY) Shares 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) rose 1% during mid-day trading on Monday . The stock traded as high as $23.78 and last traded at $23.25. Approximately 16,509 shares traded hands during mid-day trading, an increase of 32% from the average daily volume of 12,536 shares. The stock had previously closed at $23.03.

Analyst Ratings Changes

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

AB SKF Stock Performance

The company has a current ratio of 1.96, a quick ratio of 1.13 and a debt-to-equity ratio of 0.26. The company's 50-day moving average is $23.03 and its two-hundred day moving average is $21.42. The stock has a market capitalization of $11.19 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.26 and a beta of 1.17.

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

AB SKF Company Profile

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.