Citigroup Has Lowered Expectations for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its target price decreased by analysts at Citigroup from $90.00 to $85.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price would indicate a potential upside of 11.52% from the company’s current price.

TKR has been the topic of a number of other research reports. Oppenheimer dropped their target price 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. Morgan Stanley raised shares of Timken from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $82.00 to $93.00 in a research report on Tuesday, December 17th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. DA Davidson cut their price target on 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 upgraded Timken from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $95.00 in a report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.40.

Timken Stock Performance

Shares of TKR opened at $76.22 on Tuesday. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The firm’s fifty day simple moving average is $74.70 and its two-hundred day simple moving average is $79.86. Timken has a 12 month low of $69.35 and a 12 month high of $94.71. The stock has a market capitalization of $5.34 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 1.12 and a beta of 1.39.

Timken (NYSE:TKR) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company earned $1.55 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts predict that Timken will post 5.61 EPS for the current year.

Insider Activity at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Park Avenue Securities LLC lifted its position in shares of Timken by 13.6% during the 4th quarter. Park Avenue Securities LLC now owns 3,093 shares of the industrial products company’s stock worth $221,000 after buying an additional 371 shares in the last quarter. Bar Harbor Wealth Management increased its position in shares of Timken by 1.5% during the fourth quarter. Bar Harbor Wealth Management now owns 36,376 shares of the industrial products company’s stock valued at $2,596,000 after acquiring an additional 547 shares during the last quarter. TT International Asset Management LTD lifted its holdings in Timken by 20.1% during the fourth quarter. TT International Asset Management LTD now owns 47,187 shares of the industrial products company’s stock worth $3,367,000 after acquiring an additional 7,913 shares during the period. Harbor Capital Advisors Inc. boosted its position in Timken by 29.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock worth $4,327,000 after purchasing an additional 13,697 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Timken by 15.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,684 shares of the industrial products company’s stock valued at $477,000 after purchasing an additional 885 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.