Timken (NYSE:TKR - Get Free Report) had its price target lowered by investment analysts at Citigroup from $95.00 to $70.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Citigroup's target price would suggest a potential upside of 13.83% from the company's previous close.
A number of other equities analysts also recently weighed in on TKR. Evercore ISI increased their price target on shares of Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Bank of America upgraded Timken from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. The Goldman Sachs Group dropped their price target on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Jefferies Financial Group reaffirmed a "hold" rating and issued a $70.00 price objective (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Finally, Morgan Stanley boosted their target price on Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.45.
Read Our Latest Stock Analysis on TKR
Timken Trading Up 2.1 %
TKR stock traded up $1.25 during midday trading on Tuesday, hitting $61.50. The stock had a trading volume of 752,409 shares, compared to its average volume of 550,544. Timken has a 12-month low of $56.20 and a 12-month high of $94.71. The firm has a market cap of $4.30 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The company's 50-day moving average price is $74.57 and its 200 day moving average price is $76.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61.
Timken (NYSE:TKR - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. On average, equities research analysts predict that Timken will post 5.62 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is currently owned by company insiders.
Institutional Trading of Timken
A number of hedge funds have recently made changes to their positions in TKR. Vestcor Inc bought a new position in Timken during the 3rd quarter valued at $560,000. TT International Asset Management LTD raised its stake in shares of Timken by 1,075.2% in the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company's stock valued at $3,310,000 after purchasing an additional 35,932 shares in the last quarter. Barclays PLC lifted its position in shares of Timken by 221.6% during the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock worth $7,307,000 after purchasing an additional 59,716 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Timken by 29.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company's stock worth $4,327,000 after purchasing an additional 13,697 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Timken in the fourth quarter valued at about $14,460,000. Institutional investors and hedge funds own 89.08% of the company's stock.
About Timken
(
Get Free Report)
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.
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