AB SKF (SKFRY) Cut to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of AB SKF (OTCMKTS:SKFRY) from a buy rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “SKF AB engages in the manufacturing of ball and roller bearings, seals, tools for mounting/dismounting bearings, lubricants and measuring/monitoring instruments. It also produces roller bearing steel and other special steels. The Company operates in three divisions: Industrial Division, Service Division and Automotive Division. It also offers products and knowledge-based services comprising hardware and software, consulting, mechanical services, predictive and preventive maintenance, condition monitoring, decision-support systems and performance-based contracts. SKF AB is headquartered in Gothenburg, Sweden. “
Several other analysts also recently commented on SKFRY. ValuEngine upgraded shares of AB SKF from a sell rating to a hold rating in a research report on Thursday, July 26th. Barclays downgraded shares of AB SKF to a sell rating in a research report on Wednesday, October 3rd. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $22.00.
AB SKF (OTCMKTS:SKFRY) last announced its quarterly earnings data on Thursday, July 19th. The industrial products company reported $0.49 EPS for the quarter. The firm had revenue of $2.61 billion for the quarter. AB SKF had a net margin of 8.07% and a return on equity of 21.55%. On average, equities analysts forecast that AB SKF will post 1.64 EPS for the current fiscal year.
About AB SKF
AB SKF (publ) offers bearings, seals, mechatronics, condition monitoring, lubrication systems, and services. It operates in two segments, Industrial and Automotive. The company's products include bearings, units, and housings; seals; lubrication solutions; linear motion systems; actuation systems, screws, and linear guides and tables; magnetic bearings/permanent magnetic electric motors; mechatronic solutions; maintenance products; condition monitoring systems; power transmission products and solutions; coupling systems; test and measurement equipment; and vehicle aftermarket products, such as wheel end, powertrain, driveline, and steering and suspension products, as well as tools and lubricants.
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