Timken (NYSE:TKR) Price Target Cut to $90.00 by Analysts at KeyCorp

Timken (NYSE:TKR) had its price objective cut by KeyCorp from $104.00 to $90.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

TKR has been the topic of several other reports. DA Davidson reissued a “buy” rating and set a $103.00 target price 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. Oppenheimer dropped their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Citigroup began coverage on Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Timken presently has an average rating of “Hold” and an average target price of $89.60.

Timken Stock Performance

Timken stock traded down $0.72 during mid-day trading on Wednesday, reaching $78.49. 126,723 shares of the company traded hands, compared to its average volume of 481,322. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. The firm’s fifty day moving average is $82.70 and its two-hundred day moving average is $83.87. Timken has a fifty-two week low of $70.15 and a fifty-two week high of $94.71. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.90 and a beta of 1.43.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts expect that Timken will post 6.05 earnings per share for the current fiscal year.

Institutional Trading of Timken

Institutional investors have recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in shares of Timken during the first quarter valued at approximately $26,000. Coastline Trust Co acquired a new position in shares of Timken in the third quarter worth $29,000. EverSource Wealth Advisors LLC lifted its position in shares of Timken by 1,905.6% in 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. Versant Capital Management Inc bought a new position in Timken during the second quarter valued at about $30,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Timken in the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.