Timken (NYSE:TKR) Price Target Lowered to $85.00 at Citigroup

Timken (NYSE:TKR) had its target price cut by investment analysts at Citigroup from $90.00 to $85.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target would suggest a potential upside of 11.97% from the stock’s current price.

Several other analysts have also commented on TKR. DA Davidson decreased their price objective on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Oppenheimer decreased their price target on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Morgan Stanley raised shares of Timken from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $82.00 to $93.00 in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and an average target price of $92.40.

Timken Stock Up 2.3 %

TKR stock traded up $1.72 during trading on Tuesday, reaching $75.91. 309,853 shares of the company traded hands, compared to its average volume of 621,730. The business has a 50 day simple moving average of $74.62 and a 200 day simple moving average of $79.88. Timken has a 12 month low of $69.35 and a 12 month high of $94.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.12 and a beta of 1.39.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.55 earnings per share. On average, equities research analysts anticipate that Timken will post 5.61 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the transaction, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.70% of the company’s stock.

Institutional Trading of Timken

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Coastline Trust Co acquired a new stake in Timken in the 3rd quarter valued at $29,000. Livelsberger Financial Advisory acquired a new stake in shares of Timken in the third quarter valued at about $32,000. UMB Bank n.a. increased its stake in shares of Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Timken during the second quarter worth about $44,000. Finally, Brooklyn Investment Group acquired a new position in shares of Timken during the 3rd quarter worth about $74,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.