AB SKF (publ) (OTCMKTS:SKFRY) Stock Passes Below 50 Day Moving Average – Here’s Why

AB SKF (publ) (OTCMKTS:SKFRY) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $19.25 and traded as low as $18.77. AB SKF (publ) shares last traded at $18.94, with a volume of 22,732 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded AB SKF (publ) to a “hold” rating in a research report on Friday, October 11th.

AB SKF (publ) Stock Performance

The company has a market cap of $8.62 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.21. The company’s fifty day moving average is $19.25 and its 200 day moving average is $19.20. The company has a current ratio of 2.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.33.

AB SKF (publ) (OTCMKTS:SKFRY) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. AB SKF (publ) had a return on equity of 13.98% and a net margin of 5.69%. The firm had revenue of $2.27 billion for the quarter. As a group, equities analysts predict that AB SKF will post 1.26 earnings per share for the current fiscal year.

About AB SKF (publ)

AB SKF (publ) designs, manufactures, and sells bearings and units, seals, lubrication systems, condition monitoring, and services worldwide. It operates in two segments, Industrial and Automotive. The company offers rolling, mounted and housings, super-precision, slewing, plain, magnetic, and thin section bearings; industrial and automotive seals; lubricants, manual lubrication tools, lubricators, automatic lubrication systems, and lubrication system components; maintenance products, such as hydraulic, mechanical, and alignment tools, as well as heaters; belts, pulleys, chains, sprockets, bushings and hubs, couplings, and bolts and tightening systems; condition monitoring systems; test and measuring equipment, such as waviness and roundness analyzers, noise and vibration testers, and grease test rigs, as well as calibration with traceability, machine training and support, and upgrades and refurbishment services; and vehicle aftermarket products.