Zacks Investment Research upgraded shares of Timken Steel Corporation (NYSE:TMST) from a hold rating to a buy rating in a research note released on Tuesday, July 18th. They currently have $18.00 price target on the basic materials company’s stock.
According to Zacks, “TimkenSteel Corporation engages in manufacturing alloy steel, as well as carbon and micro-alloy steel. The company provides air-melted alloy steel bars, tubes, and precision components, as well as value-added services, including thermal treatment and machining. Its customers include companies in the market sectors: oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defence; heavy truck; agriculture, and power generation. TimkenSteel Corporation is headquartered in Canton, Ohio. “
Several other research analysts have also issued reports on TMST. BidaskClub lowered shares of Timken Steel Corporation from a buy rating to a hold rating in a research report on Saturday, July 8th. ValuEngine upgraded shares of Timken Steel Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. Macquarie upgraded shares of Timken Steel Corporation from an underperform rating to a neutral rating in a research report on Monday, April 3rd. TheStreet lowered shares of Timken Steel Corporation from a c- rating to a d+ rating in a research report on Tuesday, June 6th. Finally, Cowen and Company set a $23.00 price objective on shares of Timken Steel Corporation and gave the stock a buy rating in a research note on Wednesday, May 31st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Timken Steel Corporation has an average rating of Hold and an average target price of $19.17.
Shares of Timken Steel Corporation (NYSE:TMST) opened at 15.72 on Tuesday. The firm’s 50-day moving average price is $14.87 and its 200-day moving average price is $16.23. The stock’s market capitalization is $697.54 million. Timken Steel Corporation has a one year low of $8.36 and a one year high of $23.00.
Timken Steel Corporation (NYSE:TMST) last posted its quarterly earnings data on Thursday, April 27th. The basic materials company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.02. Timken Steel Corporation had a negative net margin of 10.34% and a negative return on equity of 15.69%. The company had revenue of $309.40 million for the quarter, compared to analyst estimates of $308.78 million. During the same quarter in the prior year, the business earned ($0.31) EPS. Timken Steel Corporation’s revenue was up 42.0% compared to the same quarter last year. Equities research analysts anticipate that Timken Steel Corporation will post ($0.71) EPS for the current fiscal year.
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Several large investors have recently modified their holdings of TMST. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Timken Steel Corporation during the first quarter worth about $11,763,000. Dimensional Fund Advisors LP raised its stake in shares of Timken Steel Corporation by 27.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,316,922 shares of the basic materials company’s stock worth $35,867,000 after buying an additional 502,885 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of Timken Steel Corporation during the first quarter worth about $4,672,000. Emerald Advisers Inc. PA bought a new stake in shares of Timken Steel Corporation during the first quarter worth about $14,882,000. Finally, Russell Investments Group Ltd. acquired a new stake in Timken Steel Corporation during the fourth quarter valued at about $677,000. 74.91% of the stock is owned by institutional investors.
About Timken Steel Corporation
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations.
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