AB SKF (OTCMKTS:SKFRY) Stock Passes Below 50-Day Moving Average – What’s Next?

Shares of AB SKF (OTCMKTS:SKFRY) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $26.55 and traded as low as $23.38. AB SKF shares last traded at $24.06, with a volume of 33,126 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SKFRY shares. Zacks Research downgraded shares of AB SKF from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. Rothschild & Co Redburn lowered shares of AB SKF from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 21st. The Goldman Sachs Group cut shares of AB SKF from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, January 19th. Jefferies Financial Group downgraded shares of AB SKF from a “hold” rating to a “moderate sell” rating in a report on Sunday, January 25th. Finally, BNP Paribas Exane upgraded shares of AB SKF to a “hold” rating in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, AB SKF currently has an average rating of “Reduce”.

AB SKF Trading Up 5.5%

The stock has a fifty day moving average of $26.55 and a two-hundred day moving average of $26.20. The company has a market capitalization of $10.96 billion, a PE ratio of 27.98, a PEG ratio of 1.51 and a beta of 1.13. The company has a current ratio of 2.11, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25.

AB SKF (OTCMKTS:SKFRY) last issued its quarterly earnings results on Friday, January 30th. The industrial products company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.41 billion. AB SKF had a net margin of 4.20% and a return on equity of 14.27%. As a group, 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.