Timken (NYSE:TKR) had its price objective raised by equities research analysts at Citigroup from $80.00 to $90.00 in a report released on Sunday, The Fly reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target would suggest a potential upside of 16.96% from the stock’s current price.
TKR has been the topic of a number of other reports. Jefferies Financial Group dropped their target price on shares of Timken from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 16th. Morgan Stanley dropped their target price on shares of Timken from $84.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 13th. Loop Capital upped their target price on shares of Timken from $72.00 to $78.00 and gave the company a “hold” rating in a report on Tuesday, November 2nd. KeyCorp dropped their target price on shares of Timken from $95.00 to $84.00 and set an “overweight” rating on the stock in a report on Monday, September 27th. Finally, Evercore ISI dropped their target price on shares of Timken from $87.00 to $78.00 in a report on Thursday, September 16th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $87.10.
Shares of TKR traded up $1.45 during trading hours on Friday, reaching $76.95. The stock had a trading volume of 715,494 shares, compared to its average volume of 426,022. The company has a market cap of $5.84 billion, a P/E ratio of 16.51 and a beta of 1.72. The company has a quick ratio of 1.44, a current ratio of 2.60 and a debt-to-equity ratio of 0.60. Timken has a 52 week low of $64.66 and a 52 week high of $92.39. The firm has a 50-day moving average of $70.23 and a 200 day moving average of $77.29.
Timken (NYSE:TKR) last posted its quarterly earnings data on Sunday, October 31st. The industrial products company reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.02. Timken had a net margin of 8.94% and a return on equity of 16.00%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted $1.13 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts expect that Timken will post 4.87 earnings per share for the current year.
In other news, CFO Philip D. Fracassa sold 9,220 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $72.71, for a total transaction of $670,386.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.05% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TKR. Cozad Asset Management Inc. boosted its position in Timken by 0.5% in the third quarter. Cozad Asset Management Inc. now owns 28,017 shares of the industrial products company’s stock valued at $1,833,000 after buying an additional 140 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of Timken by 1.7% during the second quarter. AlphaMark Advisors LLC now owns 8,229 shares of the industrial products company’s stock worth $663,000 after purchasing an additional 141 shares during the period. Carnegie Capital Asset Management LLC lifted its holdings in shares of Timken by 3.3% during the second quarter. Carnegie Capital Asset Management LLC now owns 4,503 shares of the industrial products company’s stock worth $363,000 after purchasing an additional 142 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Timken by 0.6% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,926 shares of the industrial products company’s stock worth $1,500,000 after purchasing an additional 145 shares during the period. Finally, HM Payson & Co. lifted its holdings in shares of Timken by 4.0% during the second quarter. HM Payson & Co. now owns 3,900 shares of the industrial products company’s stock worth $314,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 80.25% of the company’s stock.
About Timken
The Timken Co engages in the engineering, manufacturing and marketing of bearings and power transmission products. It offers gearboxes, belts, chain, lubrication systems, couplings, industrial clutches and brakes. It operates through the Mobile Industries and Process Industries segments. The Mobile Industries segment serves OEM customers that manufacture off-highway equipment for the agricultural, mining and construction markets; on-highway vehicles including passenger cars, light trucks, and medium- and heavy-duty trucks; rail cars and locomotives; outdoor power equipment; and rotorcraft and fixed-wing aircraft.