Short Interest in AB SKF (OTCMKTS:SKFRY) Drops By 55.7%

Key Points

• Short interest in AB SKF fell 55.7% to 20,970 shares as of August 14, representing 0.0% of shares outstanding and a short-interest ratio of 0.9 days.
• Analyst sentiment is broadly neutral: Zacks upgraded the stock to “hold,” while the broader analyst consensus is also “Hold” with one Buy, four Holds, and one Sell rating.
• AB SKF reported quarterly EPS of $0.53, beating estimates of $0.39, while revenue of $2.40 billion was slightly below the $2.41 billion consensus forecast.

AB SKF (OTCMKTS:SKFRY - Get Free Report) was the target of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 20,970 shares, a decrease of 55.7% from the July 30th total of 47,346 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 24,539 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of AB SKF from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold".

AB SKF Price Performance

AB SKF stock opened at $28.92 on Friday. The company has a 50-day moving average price of $26.98 and a 200 day moving average price of $26.19. AB SKF has a 12-month low of $22.26 and a 12-month high of $29.42. The company has a current ratio of 2.19, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The stock has a market cap of $13.17 billion, a P/E ratio of 27.28, a PEG ratio of 2.00 and a beta of 1.17.

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