Timken (NYSE:TKR) Upgraded to Outperform at Evercore ISI

Timken (NYSE:TKR) was upgraded by investment analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a $91.00 price target on the industrial products company’s stock, up from their previous price target of $87.00. Evercore ISI’s price target would indicate a potential upside of 21.93% from the stock’s current price.

TKR has been the subject of a number of other reports. KeyCorp reduced their price objective on shares of Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Citigroup began coverage on shares of Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price for the company. DA Davidson cut their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Oppenheimer cut their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $90.00.

Timken Price Performance

Shares of NYSE TKR opened at $74.63 on Wednesday. The firm has a market cap of $5.23 billion, a PE ratio of 15.52, a PEG ratio of 1.14 and a beta of 1.43. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. Timken has a 1-year low of $70.15 and a 1-year high of $94.71. The company has a fifty day moving average price of $82.12 and a 200 day moving average price of $83.60.

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

Insider Buying and Selling at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the sale, the director now directly owns 194,485 shares in the company, valued at approximately $14,895,606.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Timken

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Timken by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after acquiring an additional 347,794 shares in the last quarter. Interval Partners LP purchased a new position in Timken during the 1st quarter worth approximately $22,907,000. American Century Companies Inc. increased its holdings in shares of Timken by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after purchasing an additional 128,791 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Timken by 4.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after acquiring an additional 107,350 shares during the period. Finally, Kodai Capital Management LP acquired a new stake in Timken in the 1st quarter valued at $9,130,000. Institutional investors 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.