Timken (NYSE:TKR) Given New $90.00 Price Target at KeyCorp

Timken (NYSE:TKR) had its price objective cut by KeyCorp from $104.00 to $90.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other brokerages have also issued reports on TKR. Evercore ISI lowered their price target on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Citigroup initiated coverage on shares of Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price for the company. Oppenheimer decreased their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, DA Davidson reiterated a “buy” rating and issued a $103.00 price objective on shares of Timken in a report on Tuesday, September 17th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.60.

Timken Trading Down 0.2 %

Timken stock opened at $76.85 on Wednesday. Timken has a 52 week low of $70.15 and a 52 week high of $94.71. The stock has a 50-day moving average price of $82.41 and a 200 day moving average price of $83.74. The company has a quick ratio of 1.64, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.94 and a beta of 1.43.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $1.55 EPS. Sell-side analysts anticipate that Timken will post 5.62 EPS for the current year.

Institutional Trading of Timken

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning lifted its position in shares of Timken by 1.7% during the second quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 150 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Timken by 3.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock worth $407,000 after buying an additional 155 shares during the period. Beese Fulmer Investment Management Inc. increased its stake in Timken by 1.0% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock worth $1,282,000 after buying an additional 155 shares during the period. Blue Trust Inc. lifted its holdings in Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after buying an additional 166 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.