Timken (TKR) Lifted to Buy at Jefferies Group

Jefferies Group upgraded shares of Timken (NYSE:TKR) from a hold rating to a buy rating in a report issued on Thursday morning, MarketBeat Ratings reports. Jefferies Group also issued estimates for Timken’s Q1 2018 earnings at $0.75 EPS, Q2 2018 earnings at $0.90 EPS, Q3 2018 earnings at $0.85 EPS and Q4 2018 earnings at $0.95 EPS.

Other equities research analysts have also recently 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 report on Thursday, September 28th. Longbow Research raised Timken from a neutral rating to a buy rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Timken currently has an average rating of Hold and a consensus price target of $52.00.

Shares of Timken (TKR) opened at $55.25 on Thursday. The firm has a market capitalization of $4,288.34, a P/E ratio of 22.93, a PEG ratio of 1.56 and a beta of 1.50. 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 twelve month low of $41.78 and a twelve month high of $55.35.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $771.40 million for the quarter, compared to analysts’ expectations of $758.91 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. sell-side analysts forecast 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 that occurred on Thursday, November 30th. The stock was sold at an average price of $49.75, for a total transaction of $459,789.50. Following the sale, the insider now owns 89,236 shares of the company’s stock, valued at $4,439,491. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.08% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of TKR. Schwab Charles Investment Management Inc. grew its position in Timken by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 390,652 shares of the industrial products company’s stock worth $18,068,000 after buying an additional 15,695 shares during the last quarter. Neuberger Berman Group LLC grew its position in Timken by 1.9% in the second quarter. Neuberger Berman Group LLC now owns 9,734 shares of the industrial products company’s stock worth $450,000 after buying an additional 182 shares during the last quarter. JPMorgan Chase & Co. grew its position in Timken by 23.3% in the second quarter. JPMorgan Chase & Co. now owns 492,020 shares of the industrial products company’s stock worth $22,755,000 after buying an additional 92,974 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Timken by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,244 shares of the industrial products company’s stock worth $474,000 after buying an additional 47 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Timken by 9.5% in the second quarter. Wells Fargo & Company MN now owns 401,210 shares of the industrial products company’s stock worth $18,556,000 after buying an additional 34,695 shares during the last quarter. Hedge funds and other institutional investors own 79.09% of the company’s stock.

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About Timken

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.

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