Timken (NYSE:TKR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage presently has a $49.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 14.38% from the company’s previous close.
According to Zacks, “The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company’s growing product and services portfolio features many strong industrial brands including Timken, Fafnir, Philadelphia Gear, Carlisle, Drives and Interlube. “
A number of other equities analysts have also issued reports on the company. ValuEngine lowered Timken from a “sell” rating to a “strong sell” rating in a report on Friday. Goldman Sachs Group began coverage on Timken in a report on Tuesday, October 2nd. They issued a “neutral” rating and a $56.00 price objective for the company. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and set a $56.00 price objective for the company in a report on Wednesday, August 8th. KeyCorp upped their target price on Timken from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 1st. Finally, CL King started coverage on Timken in a research report on Thursday, June 28th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $55.17.
TKR stock traded down $0.83 on Friday, reaching $42.84. The company’s stock had a trading volume of 820,719 shares, compared to its average volume of 730,483. Timken has a 52 week low of $41.85 and a 52 week high of $55.65. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 0.80 and a beta of 1.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.39 and a quick ratio of 1.30.
Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. Timken had a return on equity of 18.39% and a net margin of 7.60%. The business had revenue of $906.30 million during the quarter, compared to analyst estimates of $904.77 million. During the same period in the prior year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts anticipate that Timken will post 4.17 EPS for the current fiscal year.
In other Timken news, insider Shelly Marie Chadwick sold 1,043 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $48.85, for a total value of $50,950.55. Following the completion of the sale, the insider now directly owns 3,102 shares in the company, valued at $151,532.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Philip D. Fracassa sold 3,582 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $48.39, for a total value of $173,332.98. Following the completion of the sale, the chief financial officer now owns 43,534 shares of the company’s stock, valued at $2,106,610.26. The disclosure for this sale can be found here. Corporate insiders own 11.15% of the company’s stock.
Several large investors have recently made changes to their positions in TKR. Northern Trust Corp grew its position in shares of Timken by 0.7% in the first quarter. Northern Trust Corp now owns 581,966 shares of the industrial products company’s stock valued at $26,538,000 after purchasing an additional 4,018 shares during the last quarter. California Public Employees Retirement System lifted its stake in Timken by 1.2% during the first quarter. California Public Employees Retirement System now owns 187,592 shares of the industrial products company’s stock worth $8,554,000 after purchasing an additional 2,258 shares during the period. Dimensional Fund Advisors LP lifted its stake in Timken by 4.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,694,314 shares of the industrial products company’s stock worth $77,260,000 after purchasing an additional 78,190 shares during the period. Hsbc Holdings PLC lifted its stake in Timken by 41.8% during the first quarter. Hsbc Holdings PLC now owns 20,001 shares of the industrial products company’s stock worth $912,000 after purchasing an additional 5,892 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in Timken by 61.2% during the first quarter. GSA Capital Partners LLP now owns 11,070 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 4,204 shares during the period. Institutional investors own 78.05% of the company’s stock.
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and 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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