Cowen lowered shares of Timkensteel (NYSE:TMST) from an outperform rating to a market perform rating in a research report report published on Tuesday, February 26th, MarketBeat.com reports. They currently have $13.50 target price on the basic materials company’s stock, up from their previous target price of $12.00. The analysts noted that the move was a valuation call.
A number of other analysts have also commented on TMST. Zacks Investment Research raised Timkensteel from a sell rating to a hold rating in a research note on Saturday, January 26th. ValuEngine lowered Timkensteel from a hold rating to a sell rating in a research note on Monday, October 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $16.13.
Timkensteel stock traded up $0.11 during midday trading on Tuesday, reaching $11.46. The company’s stock had a trading volume of 188,000 shares, compared to its average volume of 298,558. Timkensteel has a 52 week low of $8.18 and a 52 week high of $19.40. The company has a quick ratio of 0.88, a current ratio of 2.23 and a debt-to-equity ratio of 0.35. The stock has a market cap of $512.80 million, a PE ratio of 104.18 and a beta of 2.33.
Timkensteel (NYSE:TMST) last released its earnings results on Wednesday, February 20th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.08). Timkensteel had a negative net margin of 1.97% and a positive return on equity of 0.60%. The business had revenue of $406.40 million during the quarter, compared to the consensus estimate of $391.58 million. During the same quarter in the prior year, the firm earned ($0.76) EPS. The business’s revenue was up 19.0% on a year-over-year basis. As a group, analysts expect that Timkensteel will post 0.67 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of TMST. Luminus Management LLC lifted its stake in shares of Timkensteel by 120.1% in the third quarter. Luminus Management LLC now owns 2,160,960 shares of the basic materials company’s stock worth $32,133,000 after acquiring an additional 1,179,252 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Timkensteel by 146.6% in the third quarter. Bank of New York Mellon Corp now owns 1,128,161 shares of the basic materials company’s stock worth $16,775,000 after acquiring an additional 670,666 shares during the period. BlackRock Inc. lifted its stake in shares of Timkensteel by 3.3% in the third quarter. BlackRock Inc. now owns 5,779,112 shares of the basic materials company’s stock worth $85,934,000 after acquiring an additional 185,425 shares during the period. Brown Advisory Inc. lifted its stake in shares of Timkensteel by 77.8% in the third quarter. Brown Advisory Inc. now owns 413,290 shares of the basic materials company’s stock worth $6,146,000 after acquiring an additional 180,820 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Timkensteel by 5.4% in the third quarter. Gamco Investors INC. ET AL now owns 1,647,276 shares of the basic materials company’s stock worth $24,495,000 after acquiring an additional 83,809 shares during the period. 76.54% of the stock is currently owned by institutional investors.
Timkensteel Company Profile
TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision steel components, as well as supplies machining and thermal treatment services. It also manages raw material recycling programs.
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