AB SKF (OTCMKTS:SKFRY) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of AB SKF (OTCMKTS:SKFRY) from a buy rating to a hold rating in a research report sent to investors on Wednesday, October 10th.

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 equities analysts have also recently weighed in on the company. Barclays cut AB SKF to a sell rating in a research note on Wednesday, October 3rd. ValuEnginecut AB SKF from a hold rating to a sell rating in a research note on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. AB SKF currently has an average rating of Hold and an average price target of $22.00.

Shares of SKFRY stock traded down $0.47 during trading hours on Wednesday, hitting $17.05. 17,024 shares of the company were exchanged, compared to its average volume of 21,028. AB SKF has a fifty-two week low of $17.10 and a fifty-two week high of $25.34. The company has a quick ratio of 1.31, a current ratio of 2.17 and a debt-to-equity ratio of 0.49. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.59 and a beta of 0.49.

AB SKF (OTCMKTS:SKFRY) last posted its quarterly earnings results on Thursday, July 19th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter. AB SKF had a net margin of 8.07% and a return on equity of 21.55%. The business had revenue of $2.61 billion during the quarter. Analysts anticipate that AB SKF will post 1.64 earnings per share for the current year.