Timken (NYSE:TKR) PT Lowered to $75.00

Timken (NYSE:TKRGet Rating) had its price target cut by equities researchers at KeyCorp from $84.00 to $75.00 in a report released on Tuesday, The Fly reports. KeyCorp’s price target would indicate a potential upside of 26.67% from the stock’s previous close.

Several other brokerages have also recently commented on TKR. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and set a $78.00 price target for the company in a research report on Tuesday, February 15th. They noted that the move was a valuation call. The Goldman Sachs Group dropped their price target on Timken from $74.00 to $64.00 and set a “neutral” rating for the company in a research report on Thursday, April 7th. Zacks Investment Research upgraded Timken from a “sell” rating to a “hold” rating and set a $59.00 price target for the company in a research report on Thursday, April 7th. Oppenheimer began coverage on Timken in a research report on Wednesday, April 13th. They set an “outperform” rating and a $75.00 price target for the company. Finally, Bank of America lowered Timken from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $80.00 in a research note on Friday, January 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $77.10.

Timken stock opened at $59.21 on Tuesday. The stock has a market capitalization of $4.44 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 0.93 and a beta of 1.56. Timken has a 12 month low of $55.32 and a 12 month high of $92.39. The business has a 50 day simple moving average of $60.80 and a 200-day simple moving average of $66.75. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.47 and a quick ratio of 1.31.

Timken (NYSE:TKRGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The industrial products company reported $1.61 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.45. Timken had a return on equity of 15.51% and a net margin of 8.93%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the business earned $1.38 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts anticipate that Timken will post 5.18 EPS for the current fiscal year.

In other news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction on Friday, February 18th. The stock was sold at an average price of $68.32, for a total value of $341,600.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 10.79% of the company’s stock.

Several institutional investors have recently made changes to their positions in TKR. TCI Wealth Advisors Inc. lifted its stake in shares of Timken by 101.7% in the 4th quarter. TCI Wealth Advisors Inc. now owns 361 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 182 shares during the last quarter. MUFG Americas Holdings Corp raised its holdings in shares of Timken by 533.3% in the 3rd quarter. MUFG Americas Holdings Corp now owns 399 shares of the industrial products company’s stock valued at $26,000 after buying an additional 336 shares during the period. CWM LLC purchased a new stake in shares of Timken in the 4th quarter valued at $28,000. Confluence Wealth Services Inc. purchased a new stake in shares of Timken in the 4th quarter valued at $30,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in shares of Timken in the 1st quarter valued at $30,000. 80.18% of the stock is currently owned by institutional investors and hedge funds.

About Timken (Get Rating)

The Timken Company designs, manufactures, and manages engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end-users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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