AB SKF (publ) (OTCMKTS:SKFRY) Sees Significant Increase in Short Interest

AB SKF (publ) (OTCMKTS:SKFRY – Get Rating) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 56,200 shares, a growth of 282.3% from the April 15th total of 14,700 shares. Based on an average daily trading volume, of 153,200 shares, the days-to-cover ratio is presently 0.4 days.

SKFRY opened at $16.58 on Thursday. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 2.59 and a beta of 1.25. AB SKF has a 52 week low of $15.00 and a 52 week high of $27.84. The business’s 50 day moving average is $16.63 and its two-hundred day moving average is $20.68. The company has a quick ratio of 1.34, a current ratio of 2.19 and a debt-to-equity ratio of 0.34.

AB SKF (publ) (OTCMKTS:SKFRY – Get Rating) last released its quarterly earnings results on Monday, April 25th. The industrial products company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.40 by $0.07. AB SKF (publ) had a return on equity of 17.50% and a net margin of 8.90%. Equities analysts expect that AB SKF will post 1.65 EPS for the current fiscal year.

SKFRY has been the subject of several recent research reports. Royal Bank of Canada decreased their price objective on AB SKF (publ) from SEK 300 to SEK 250 and set an “outperform” rating for the company in a research note on Friday, February 4th. Zacks Investment Research cut AB SKF (publ) from a “hold” rating to a “sell” rating in a research note on Wednesday, March 16th. Danske upgraded AB SKF (publ) from a “hold” rating to a “buy” rating in a research note on Friday, May 6th. They noted that the move was a valuation call. DNB Markets upgraded AB SKF (publ) from a “hold” rating to a “buy” rating and set a $245.00 target price for the company in a research note on Monday, February 21st. Finally, JPMorgan Chase & Co. decreased their target price on AB SKF (publ) from SEK 235 to SEK 205 in a research note on Monday, April 11th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $189.89.

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.

Featured Stories