Timken (NYSE:TKR) Upgraded by Citigroup to Buy Rating

Timken (NYSE:TKR) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The firm currently has a $90.00 price objective on the industrial products company’s stock, up from their previous price objective of $85.00. Citigroup’s price objective would indicate a potential upside of 15.88% from the company’s current price.

Several other equities analysts have also weighed in on the company. KeyCorp reissued a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Oppenheimer cut their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. DA Davidson cut their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $95.00 in a report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Timken Stock Down 1.0 %

Shares of NYSE:TKR opened at $77.67 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 1.13 and a beta of 1.38. The company has a 50 day moving average of $80.04 and a 200-day moving average of $81.65. Timken has a one year low of $72.35 and a one year high of $94.71.

Timken (NYSE:TKR) last released its earnings results 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). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates 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 firm posted $1.55 EPS. On average, sell-side analysts forecast that Timken will post 5.61 earnings per share for the current year.

Insiders Place Their Bets

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business’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 sale, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Timken

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC grew its position in 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 in the last quarter. Verition Fund Management LLC grew its holdings in shares of Timken by 3,179.1% in the 3rd quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock valued at $16,340,000 after acquiring an additional 187,946 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after acquiring an additional 128,791 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Timken by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after acquiring an additional 107,350 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 valued at $168,667,000 after purchasing an additional 97,550 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.