Oppenheimer Issues Pessimistic Forecast for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR - Get Free Report) had its price objective reduced by equities researchers at Oppenheimer from $102.00 to $97.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the industrial products company's stock. Oppenheimer's price target would indicate a potential upside of 22.46% from the company's previous close.

Several other research firms have also weighed in on TKR. Evercore ISI reduced 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 note on Monday, August 19th. DA Davidson reissued a "buy" rating and issued a $103.00 price target on shares of Timken in a report on Tuesday, September 17th. Finally, Citigroup began coverage on Timken in a research note on Monday, October 14th. They set a "neutral" rating and a $90.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $89.60.

Timken Price Performance

Shares of NYSE:TKR traded up $6.61 during midday trading on Wednesday, reaching $79.21. The company's stock had a trading volume of 1,851,190 shares, compared to its average volume of 482,972. The business's fifty day simple moving average is $82.77 and its 200-day simple moving average is $83.91. The company has a market capitalization of $5.56 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.90 and a beta of 1.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. Timken has a fifty-two week low of $70.15 and a fifty-two week high of $94.71.

Timken (NYSE:TKR - Get Free Report) last announced 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 net margin of 7.52% and a return on equity of 16.36%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. The firm's quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that Timken will post 6.05 EPS for the current fiscal year.

Insider Buying and Selling at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the completion of the sale, the chief executive officer now owns 244,485 shares of the company's stock, valued at approximately $19,671,263.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.70% of the company's stock.

Institutional Trading of Timken

Several hedge funds have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in Timken during the 1st quarter worth $26,000. Coastline Trust Co bought a new position in Timken in the 3rd quarter valued at approximately $29,000. Versant Capital Management Inc acquired a new stake in Timken in the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its stake in shares of Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company's stock worth $32,000 after buying an additional 343 shares during the last quarter. Finally, Livelsberger Financial Advisory acquired a new position in shares of Timken during the third quarter worth $32,000. 89.08% of the stock is owned by institutional investors and hedge funds.

About Timken

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.