Timken (NYSE:TKR – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
Several other research firms have also issued reports on TKR. Morgan Stanley began coverage on Timken in a research note on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price objective on the stock. KeyCorp reduced their price target on Timken from $102.00 to $91.00 and set an “overweight” rating on the stock in a research report on Monday, November 6th. DA Davidson started coverage on Timken in a research note on Tuesday, January 23rd. They set a “buy” rating and a $92.00 target price for the company. The Goldman Sachs Group upped their target price on Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Finally, Stifel Nicolaus cut their target price on Timken from $93.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $85.60.
Timken Stock Performance
Shares of Timken stock opened at $79.76 on Wednesday. Timken has a one year low of $65.71 and a one year high of $95.08. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.13 and a beta of 1.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 0.96. The stock’s 50-day moving average is $80.24 and its 200-day moving average is $75.81.
Timken (NYSE:TKR – Get Free Report) last released its earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.15. Timken had a return on equity of 19.57% and a net margin of 8.26%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. Timken’s revenue was up .9% on a year-over-year basis. Equities analysts predict that Timken will post 6.02 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Timken
Several hedge funds have recently modified their holdings of TKR. Vanguard Group Inc. raised its holdings in shares of Timken by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,450,013 shares of the industrial products company’s stock worth $380,808,000 after purchasing an additional 29,889 shares during the period. BlackRock Inc. lifted its position in shares of Timken by 2.0% during the first quarter. BlackRock Inc. now owns 5,773,011 shares of the industrial products company’s stock worth $350,420,000 after acquiring an additional 112,617 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Timken by 4.5% during the second quarter. JPMorgan Chase & Co. now owns 3,094,850 shares of the industrial products company’s stock worth $283,272,000 after acquiring an additional 134,234 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Timken by 18.0% during the second quarter. Thrivent Financial for Lutherans now owns 2,267,652 shares of the industrial products company’s stock worth $207,559,000 after acquiring an additional 346,714 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Timken by 0.5% in the first quarter. State Street Corp now owns 1,922,811 shares of the industrial products company’s stock worth $157,132,000 after purchasing an additional 9,303 shares during the period. Institutional investors own 84.56% of the company’s stock.
About Timken
The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company’s Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; thrust and specialty ball bearings; and housed or mounted bearings.