AB SKF (OTCMKTS:SKFRY) Reaches New 52-Week High – Here’s Why

Shares of AB SKF (OTCMKTS:SKFRY) hit a new 52-week high during trading on Monday . The company traded as high as $27.81 and last traded at $27.81, with a volume of 814 shares. The stock had previously closed at $26.74.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SKFRY. Deutsche Bank Aktiengesellschaft upgraded shares of AB SKF from a “hold” rating to a “buy” rating in a report on Tuesday, November 18th. BNP Paribas upgraded AB SKF to a “hold” rating in a research note on Tuesday, December 9th. Finally, Zacks Research upgraded AB SKF from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

AB SKF Stock Down 0.0%

The company has a 50-day moving average of $26.27 and a two-hundred day moving average of $25.28. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.16 and a quick ratio of 1.20. The company has a market capitalization of $12.35 billion, a PE ratio of 26.08, a P/E/G ratio of 2.77 and a beta of 1.13.

AB SKF (OTCMKTS:SKFRY) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.32 by $0.10. AB SKF had a return on equity of 14.26% and a net margin of 5.07%.The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. Sell-side analysts anticipate that AB SKF will post 1.51 earnings per share for the current fiscal year.

AB SKF Company Profile

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.