Timken (NYSE:TKR) Price Target Cut to $87.00

Timken (NYSE:TKR) had its price target cut by investment analysts at Evercore ISI from $94.00 to $87.00 in a report issued on Monday, Benzinga reports. The firm presently has an “in-line” rating on the industrial products company’s stock. Evercore ISI’s price objective would suggest a potential upside of 6.32% from the company’s previous close.

Several other equities analysts also recently commented on the company. Stifel Nicolaus boosted their price objective on Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Raymond James assumed coverage on Timken in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. KeyCorp boosted their price objective on Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Finally, Loop Capital boosted their price objective on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $88.18.

Timken Price Performance

NYSE TKR opened at $81.83 on Monday. The company has a market capitalization of $5.74 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 1.78 and a beta of 1.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The business’s fifty day moving average is $82.18 and its 200 day moving average is $84.59. Timken has a fifty-two week low of $65.71 and a fifty-two week high of $94.71.

Timken (NYSE:TKR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. Timken’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.01 earnings per share. Sell-side analysts predict that Timken will post 6.13 earnings per share for the current year.

Insiders Place Their Bets

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the sale, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at $19,671,263.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Timken

Large investors have recently added to or reduced their stakes in the stock. Comerica Bank increased its stake in Timken by 13.8% during the first quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock worth $5,154,000 after acquiring an additional 7,160 shares during the last quarter. Duality Advisers LP grew its stake in shares of Timken by 226.3% during the fourth quarter. Duality Advisers LP now owns 27,790 shares of the industrial products company’s stock valued at $2,227,000 after buying an additional 19,274 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after buying an additional 347,794 shares during the last quarter. Fiduciary Management Inc. WI grew its stake in shares of Timken by 94.7% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after buying an additional 551,097 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of Timken during the fourth quarter valued at approximately $1,667,000. 89.08% of the stock is owned by institutional investors.

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.