Timken (NYSE:TKR) Price Target Raised to $95.00 at KeyCorp

Timken (NYSE:TKR) had its price objective raised by equities research analysts at KeyCorp from $91.00 to $95.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price would indicate a potential upside of 7.33% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $100.00 price objective (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. Stifel Nicolaus raised their price target on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. Loop Capital boosted their price target on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday. Evercore ISI cut Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price objective for the company. in a research report on Tuesday, February 20th. Finally, Morgan Stanley began coverage on Timken in a report on Monday, January 8th. They issued an “equal weight” rating and a $74.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $87.09.

Timken Stock Performance

Shares of NYSE TKR traded up $1.02 during trading hours on Thursday, reaching $88.51. The stock had a trading volume of 132,522 shares, compared to its average volume of 502,689. The firm has a 50-day moving average of $85.77 and a 200-day moving average of $79.78. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.22 and a beta of 1.51. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66. Timken has a fifty-two week low of $65.71 and a fifty-two week high of $95.08.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 earnings per share. Equities research analysts predict that Timken will post 6.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC purchased a new stake in Timken during the first quarter worth about $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Timken during the 4th quarter worth approximately $30,000. GAMMA Investing LLC acquired a new stake in shares of Timken in the 4th quarter worth approximately $35,000. Anchor Investment Management LLC purchased a new position in Timken in the 4th quarter valued at approximately $58,000. Finally, CWM LLC raised its holdings in Timken by 50.0% during the third quarter. CWM LLC now owns 906 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 302 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Company Profile

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.