Timken (NYSE:TKR) Given New $99.00 Price Target at DA Davidson

Timken (NYSE:TKR) had its price objective lowered by DA Davidson from $103.00 to $99.00 in a research note released on Wednesday morning,Benzinga reports. DA Davidson currently has a buy rating on the industrial products company’s stock. DA Davidson also issued estimates for Timken’s Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $5.57 EPS and FY2025 earnings at $6.47 EPS.

Several other brokerages also recently commented on TKR. Evercore ISI decreased their price objective on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Oppenheimer decreased their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday. KeyCorp dropped their price objective on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Citigroup started coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $89.60.

Timken Trading Down 0.2 %

NYSE:TKR opened at $76.85 on Wednesday. The firm 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. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.64. The business has a fifty day moving average price of $82.41 and a 200-day moving average price of $83.76. Timken has a one year low of $70.15 and a one year high of $94.71.

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

Institutional Investors Weigh In On Timken

Several large investors have recently bought and sold shares of TKR. Vanguard Group Inc. grew its stake in shares of Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after buying an additional 347,794 shares in the last quarter. Interval Partners LP bought a new stake in Timken during the first quarter worth approximately $22,907,000. American Century Companies Inc. increased its stake in Timken by 4.8% during the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after acquiring an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of 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 purchasing an additional 107,350 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new position in shares of Timken in the 1st quarter worth approximately $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.