DA Davidson Cuts Timken (NYSE:TKR) Price Target to $99.00

Timken (NYSE:TKR) had its target price decreased by research analysts at DA Davidson from $103.00 to $99.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. DA Davidson’s price target would suggest a potential upside of 25.92% from the stock’s previous close.

Several other research firms have also issued reports on TKR. KeyCorp lowered their price objective on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup began coverage on shares of Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective for the company. Oppenheimer reduced their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Evercore ISI dropped their price target on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Eight analysts have rated the stock with a hold rating and four have assigned 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 Price Performance

Shares of TKR stock traded up $6.02 during mid-day trading on Wednesday, hitting $78.62. The company had a trading volume of 1,180,908 shares, compared to its average volume of 479,854. 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 stock’s 50 day moving average price is $82.77 and its 200-day moving average price is $83.91. Timken has a 52-week low of $70.15 and a 52-week high of $94.71. The company has a market capitalization of $5.51 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.90 and a beta of 1.43.

Timken (NYSE:TKR) last posted 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). Timken had a net margin of 7.52% and a return on equity of 16.36%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts forecast that Timken will post 6.05 earnings per share for the current year.

Insiders Place Their Bets

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the transaction, the chief executive officer now owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

A number of hedge funds have recently made changes to their positions in TKR. Fidelis Capital Partners LLC purchased a new position in Timken in the first quarter worth $26,000. Versant Capital Management Inc acquired a new position in Timken during the 2nd quarter valued at approximately $30,000. EverSource Wealth Advisors LLC raised its holdings 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. Livelsberger Financial Advisory acquired a new stake in shares of Timken during the third quarter worth $32,000. Finally, UMB Bank n.a. raised its stake in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 168 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.