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Timken (NYSE:TKR) Upgraded by Jefferies Financial Group to Buy Rating

Timken logo with Computer and Technology background

Timken (NYSE:TKR - Get Free Report) was upgraded by equities researchers at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has a $95.00 price target on the industrial products company's stock, up from their prior price target of $80.00. Jefferies Financial Group's price target points to a potential upside of 24.44% from the company's previous close.

Other research analysts have also issued reports about the company. Citigroup assumed coverage on Timken in a report on Monday, October 14th. They issued a "neutral" rating and a $90.00 price objective on the stock. KeyCorp reaffirmed a "sector weight" rating on shares of Timken in a report on Friday, November 22nd. Oppenheimer dropped their target price on Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Evercore ISI raised Timken from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. Finally, DA Davidson dropped their target price on Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Timken currently has a consensus rating of "Hold" and an average price target of $91.00.

Check Out Our Latest Stock Analysis on Timken

Timken Price Performance

Shares of NYSE:TKR traded up $0.23 during trading on Friday, hitting $76.34. 728,664 shares of the company's stock were exchanged, compared to its average volume of 485,605. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. Timken has a 52-week low of $72.35 and a 52-week high of $94.71. The business's 50-day simple moving average is $80.28 and its 200 day simple moving average is $81.91. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.15 and a beta of 1.38.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly 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 the consensus estimate of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. Timken's revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 earnings per share. As a group, equities analysts predict that Timken will post 5.61 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard G. Kyle sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Timken

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Timken by 34.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company's stock valued at $143,376,000 after purchasing an additional 434,800 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Timken by 3,179.1% in the third quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company's stock valued at $16,340,000 after purchasing an additional 187,946 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Timken by 4.8% in the second 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 increased its holdings in shares of Timken by 4.2% in the third 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, Dimensional Fund Advisors LP increased its stake in Timken by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company's stock worth $168,667,000 after acquiring an additional 97,550 shares during the last quarter. Hedge funds and other institutional investors 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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