Zacks Investment Research Upgrades AB SKF (OTCMKTS:SKFRY) to “Hold”

Zacks Investment Research upgraded shares of AB SKF (OTCMKTS:SKFRY) from a sell rating to a hold rating in a report issued on Tuesday, reports.

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 firms have also issued reports on SKFRY. Bank of America lowered AB SKF from a neutral rating to an underperform rating in a research report on Friday, July 5th. ValuEngine lowered AB SKF from a hold rating to a sell rating in a research report on Saturday, July 6th. Five analysts have rated the stock with a sell rating and three have given a hold rating to the stock. AB SKF currently has an average rating of Sell and an average target price of $20.00.

SKFRY opened at $18.20 on Tuesday. The stock has a 50-day moving average price of $17.03 and a 200-day moving average price of $16.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.09 and a quick ratio of 1.29. The firm has a market cap of $8.25 billion, a PE ratio of 9.89, a P/E/G ratio of 7.17 and a beta of 1.11. AB SKF has a 1 year low of $13.78 and a 1 year high of $19.22.

About AB SKF

AB SKF (publ) offers bearings, seals, condition monitoring, lubrication systems, and services. It operates in two segments, Industrial and Automotive. The company's products include bearings, units, and housings; seals; lubrication solutions; lubricants; actuation systems, ball and roller screws, linear guides and tables, and engineering tools; magnetic bearings/permanent magnetic electric motors; mechatronic solutions; maintenance products; condition monitoring systems; power transmission products and solutions; coupling systems; test and measurement equipment; and vehicle aftermarket products, such as wheel end, powertrain, driveline, and suspension products.

Further Reading: Equity Income

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