DA Davidson Issues Positive Forecast for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its target price boosted by investment analysts at DA Davidson from $66.00 to $71.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s price target suggests a potential upside of 5.12% from the company’s previous close.

TKR has been the subject of several other research reports. Evercore ISI lifted their price objective on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Loop Capital lowered their price objective on Timken from $85.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Citigroup reduced their target price on Timken from $95.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group lowered their price target on Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price objective (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.70.

Timken Stock Up 1.5 %

TKR traded up $1.00 on Monday, reaching $67.55. 249,109 shares of the company traded hands, compared to its average volume of 554,775. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The stock’s 50 day moving average price is $68.90 and its 200-day moving average price is $74.55. Timken has a 52-week low of $56.20 and a 52-week high of $93.66.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.03). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 EPS. On average, sell-side analysts expect that Timken will post 5.62 EPS for the current fiscal year.

Insider Activity at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, the chief financial officer now owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Timken

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in Timken during the 4th quarter worth approximately $29,000. Amundi increased its stake in shares of Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of Timken in the fourth quarter valued at about $66,000. UMB Bank n.a. lifted its position in Timken by 400.0% during the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company’s stock worth $72,000 after buying an additional 800 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Timken by 282.3% during the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 847 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Company Profile

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; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.