Zacks Investment Research Upgrades AB SKF (publ) (OTCMKTS:SKFRY) to Strong-Buy

Zacks Investment Research upgraded shares of AB SKF (publ) (OTCMKTS:SKFRY) from a sell rating to a strong-buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $29.00 price objective 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. “

Other analysts have also issued reports about the company. JPMorgan Chase & Co. reissued a neutral rating on shares of AB SKF (publ) in a research note on Wednesday, October 27th. DNB Markets lowered AB SKF (publ) from a buy rating to a hold rating in a research note on Wednesday, October 27th. Societe Generale reissued a sell rating on shares of AB SKF (publ) in a research note on Thursday, October 28th. Morgan Stanley reissued an overweight rating on shares of AB SKF (publ) in a research note on Wednesday, October 27th. Finally, Deutsche Bank Aktiengesellschaft restated a hold rating on shares of AB SKF (publ) in a report on Wednesday, September 29th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $100.05.

Shares of SKFRY opened at $25.70 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.42 and a quick ratio of 1.52. The firm has a 50 day simple moving average of $23.81 and a 200-day simple moving average of $24.65. AB SKF has a 1-year low of $22.08 and a 1-year high of $30.50. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33.

AB SKF (publ) (OTCMKTS:SKFRY) last issued its quarterly earnings data on Monday, October 25th. The industrial products company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.05. AB SKF (publ) had a net margin of 8.91% and a return on equity of 20.31%. The business had revenue of $2.33 billion during the quarter. On average, equities analysts expect that AB SKF will post 1.79 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.

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