Citigroup Boosts Timken (NYSE:TKR) Price Target to $80.00

Timken (NYSE:TKR) had its target price upped by investment analysts at Citigroup from $75.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective would suggest a potential upside of 8.35% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Loop Capital cut 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. Evercore ISI cut their target price on shares of Timken from $102.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, May 19th. Morgan Stanley decreased their price target on shares of Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. DA Davidson boosted their price objective on shares of Timken from $66.00 to $71.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group cut their target price on Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Timken presently has a consensus rating of “Hold” and a consensus target price of $79.00.

Timken Price Performance

Shares of Timken stock traded up $2.66 on Tuesday, reaching $73.84. 201,636 shares of the stock were exchanged, compared to its average volume of 574,539. The firm’s 50 day moving average is $68.51 and its 200-day moving average is $72.44. The firm has a market cap of $5.17 billion, a PE ratio of 15.91, a P/E/G ratio of 1.67 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. Timken has a one year low of $56.20 and a one year high of $90.49.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.03). Timken had a return on equity of 12.62% and a net margin of 7.24%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $1.77 earnings per share. Timken’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, analysts anticipate that Timken will post 5.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Advisors Capital Management LLC increased its stake in Timken by 3.2% in the first quarter. Advisors Capital Management LLC now owns 70,739 shares of the industrial products company’s stock valued at $5,084,000 after purchasing an additional 2,175 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Timken by 7.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,872 shares of the industrial products company’s stock valued at $16,305,000 after acquiring an additional 16,000 shares during the period. United Services Automobile Association bought a new stake in shares of Timken during the first quarter valued at approximately $306,000. Ashton Thomas Private Wealth LLC raised its position in shares of Timken by 18.4% during the first quarter. Ashton Thomas Private Wealth LLC now owns 8,052 shares of the industrial products company’s stock worth $579,000 after purchasing an additional 1,252 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Timken by 147.0% during the first quarter. Goldman Sachs Group Inc. now owns 355,765 shares of the industrial products company’s stock worth $25,569,000 after purchasing an additional 211,718 shares during the period. Institutional investors and hedge funds own 89.08% 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; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.