AB SKF (OTCMKTS:SKFRY) Hits New 52-Week High – Still a Buy?

AB SKF (OTCMKTS:SKFRY) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $28.95 and last traded at $28.8750, with a volume of 4199 shares trading hands. The stock had previously closed at $28.5630.

Analyst Upgrades and Downgrades

SKFRY has been the subject of a number of recent research reports. Jefferies Financial Group downgraded shares of AB SKF from a “hold” rating to a “moderate sell” rating in a research note on Sunday, January 25th. Rothschild & Co Redburn lowered shares of AB SKF from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded shares of AB SKF from a “hold” rating to a “buy” rating in a research report on Tuesday, November 18th. BNP Paribas Exane upgraded AB SKF to a “hold” rating in a research report on Tuesday, December 9th. Finally, Zacks Research cut AB SKF from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold”.

AB SKF Price Performance

The company’s 50 day simple moving average is $27.07 and its 200 day simple moving average is $25.92. 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 stock has a market cap of $13.19 billion, a P/E ratio of 33.69, a P/E/G ratio of 1.86 and a beta of 1.15.

AB SKF (OTCMKTS:SKFRY) last announced its quarterly earnings results on Friday, January 30th. The industrial products company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). AB SKF had a return on equity of 14.25% and a net margin of 4.20%.The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.41 billion. As a group, equities analysts forecast that AB SKF will post 1.51 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.