Short Interest in AB SKF (publ) (OTCMKTS:SKFRY) Declines By 46.6%

AB SKF (publ) (OTCMKTS:SKFRYGet Rating) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 14,100 shares, a decline of 46.6% from the May 31st total of 26,400 shares. Based on an average daily volume of 52,700 shares, the short-interest ratio is currently 0.3 days.

AB SKF (publ) stock traded up $0.20 during trading hours on Friday, reaching $14.88. 48,498 shares of the company’s stock were exchanged, compared to its average volume of 70,562. The company has a quick ratio of 1.19, a current ratio of 2.07 and a debt-to-equity ratio of 0.34. The firm’s 50 day simple moving average is $16.80 and its 200 day simple moving average is $18.91. AB SKF has a twelve month low of $14.42 and a twelve month high of $27.12. The firm has a market capitalization of $6.34 billion, a PE ratio of 7.87, a PEG ratio of 2.43 and a beta of 1.25.

AB SKF (publ) (OTCMKTS:SKFRYGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The industrial products company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. AB SKF (publ) had a return on equity of 17.51% and a net margin of 8.90%. The firm had revenue of $2.46 billion during the quarter. Analysts anticipate that AB SKF will post 1.65 EPS for the current year.

SKFRY has been the subject of several research analyst reports. UBS Group upgraded shares of AB SKF (publ) from a “sell” rating to a “neutral” rating in a research report on Thursday, March 17th. Berenberg Bank lowered their price target on shares of AB SKF (publ) from SEK 240 to SEK 230 and set a “buy” rating for the company in a report on Thursday, April 28th. JPMorgan Chase & Co. lowered their price target on shares of AB SKF (publ) from SEK 235 to SEK 205 in a report on Monday, April 11th. Morgan Stanley lowered their price target on shares of AB SKF (publ) from SEK 250 to SEK 210 in a report on Wednesday, March 16th. Finally, Credit Suisse Group lowered their price target on shares of AB SKF (publ) from SEK 180 to SEK 160 and set an “underperform” rating for the company in a report on Wednesday, April 27th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, AB SKF (publ) presently has a consensus rating of “Hold” and a consensus price target of $208.13.

About AB SKF (publ) (Get Rating)

AB SKF (publ) engages in the design, development, and manufacture of bearings, seals, lubrication systems, and services worldwide. It operates in two segments, Industrial and Automotive. The company offers rolling bearings, mounted bearings and housings, super-precision bearings, slewing bearings, plain bearings, magnetic bearings and systems, industrial and automotive seals, lubrication management solutions, maintenance products, condition monitoring systems, power transmission solutions, test and measuring equipment, vehicle aftermarket, and waste electric and electronic equipment products.

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