AB SKF (publ) (OTCMKTS:SKFRY) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of AB SKF (publ) (OTCMKTS:SKFRY) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. They currently have $25.00 price target on the industrial products company’s stock.

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 research analysts have also commented on SKFRY. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating on shares of AB SKF (publ) in a report on Wednesday, July 21st. HSBC raised shares of AB SKF (publ) from a hold rating to a buy rating in a research note on Friday, September 3rd. Credit Suisse Group set a $26.16 target price on shares of AB SKF (publ) and gave the company an underperform rating in a research note on Friday, July 23rd. Jefferies Financial Group upgraded shares of AB SKF (publ) from an underperform rating to a hold rating in a research report on Friday, July 2nd. Finally, Barclays restated an underweight rating on shares of AB SKF (publ) in a research report on Tuesday, August 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $25.58.

SKFRY opened at $24.47 on Wednesday. The company has a 50-day moving average of $25.32 and a 200-day moving average of $26.66. The company has a market capitalization of $11.14 billion, a P/E ratio of 14.39 and a beta of 1.37. AB SKF has a 1-year low of $19.19 and a 1-year high of $30.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.48 and a current ratio of 2.33.

AB SKF (publ) (OTCMKTS:SKFRY) last released its earnings results on Tuesday, July 20th. The industrial products company reported $0.61 earnings per share for the quarter. The company had revenue of $2.46 billion during the quarter. AB SKF (publ) had a net margin of 8.38% and a return on equity of 20.79%. As a group, sell-side analysts expect that AB SKF will post 1.93 earnings per share for the current fiscal year.

About AB SKF (publ)

SKF AB engages in the manufacture of machine and rotating equipment. It operates through the Industrial and Automotive segments. The Industrial segment comprises of Industrial Sales Americas, Industrial Sales Europe and Middle East and Africa, Industrial Sales Asia, Industrial Units, Bearing Operations, and Aerospace.

See Also: Cash Flow

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Analyst Recommendations for AB SKF (publ) (OTCMKTS:SKFRY)

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