Timken (NYSE:TKR) Given New $97.00 Price Target at Oppenheimer

Timken (NYSE:TKR) had its target price lowered by Oppenheimer from $102.00 to $97.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other equities research analysts have also commented on the company. DA Davidson reiterated a “buy” rating and set a $103.00 price objective on shares of Timken in a research note on Tuesday, September 17th. Evercore ISI dropped their price target on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, Citigroup assumed coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $89.60.

Timken Stock Performance

TKR traded down $0.72 on Wednesday, reaching $78.49. The stock had a trading volume of 126,723 shares, compared to its average volume of 481,322. The business’s 50-day moving average price is $82.70 and its two-hundred day moving average price is $83.87. The company has a market cap of $5.50 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.90 and a beta of 1.43. Timken has a 12-month low of $70.15 and a 12-month high of $94.71. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72.

Timken (NYSE:TKR) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business earned $1.55 EPS. Sell-side analysts forecast that Timken will post 6.05 earnings per share for the current year.

Hedge Funds Weigh In On Timken

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Timken by 5.6% during the first 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 during the last quarter. Interval Partners LP acquired a new stake in shares of Timken during the first quarter valued at about $22,907,000. American Century Companies Inc. increased its holdings in Timken by 4.8% in 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 during the last quarter. Thrivent Financial for Lutherans lifted its stake in Timken by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after purchasing an additional 107,350 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new stake in shares of Timken in the 1st quarter valued at $9,130,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

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.