Timken (TKR) Rating Increased to Buy at Longbow Research

Timken (NYSE:TKR) was upgraded by analysts at Longbow Research from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, January 2nd, Marketbeat reports.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Timken from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Thursday, September 28th. Jefferies Group restated a “hold” rating and issued a $50.00 price target on shares of Timken in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $52.00.

Timken (NYSE TKR) opened at $55.25 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Timken has a 1-year low of $41.78 and a 1-year high of $55.35. The stock has a market capitalization of $4,280.00, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.46 and a beta of 1.50.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. Timken had a return on equity of 13.75% and a net margin of 6.88%. The company had revenue of $771.40 million for the quarter, compared to analyst estimates of $758.91 million. During the same quarter last year, the firm posted $0.53 earnings per share. Timken’s revenue was up 17.3% compared to the same quarter last year. sell-side analysts expect that Timken will post 2.62 EPS for the current year.

In related news, insider Richard G. Kyle sold 9,242 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $49.75, for a total value of $459,789.50. Following the completion of the sale, the insider now directly owns 89,236 shares in the company, valued at approximately $4,439,491. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.08% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. acquired a new position in Timken in the 4th quarter valued at $148,000. Advisor Group Inc. raised its holdings in shares of Timken by 19.7% during the 2nd quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock worth $187,000 after buying an additional 666 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Timken during the 4th quarter worth $201,000. Creative Planning acquired a new position in shares of Timken during the 4th quarter worth $210,000. Finally, Calamos Advisors LLC acquired a new position in shares of Timken during the 2nd quarter worth $210,000. 79.09% of the stock is owned by hedge funds and other institutional investors.

WARNING: This piece was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://stocknewstimes.com/2018/01/20/timken-tkr-upgraded-at-longbow-research.html.

Timken Company Profile

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply