Timken (NYSE:TKR) Price Target Lowered to $90.00 at KeyCorp

Timken (NYSE:TKR) had its target price decreased by KeyCorp from $104.00 to $90.00 in a research note released on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on TKR. Evercore ISI dropped their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Oppenheimer cut their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday. DA Davidson reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Timken in a research note on Tuesday, September 17th. Finally, Citigroup assumed coverage on shares of Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.60.

Timken Stock Performance

TKR stock opened at $76.85 on Wednesday. Timken has a twelve month low of $70.15 and a twelve month high of $94.71. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.94 and a beta of 1.43. The business’s fifty day simple moving average is $82.41 and its two-hundred day simple moving average is $83.74. The company has a quick ratio of 1.64, a current ratio of 3.00 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last announced its quarterly earnings data 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 company had revenue of $1.13 billion for 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 company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 EPS. Analysts predict that Timken will post 5.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Timken by 0.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 122,557 shares of the industrial products company’s stock worth $10,330,000 after purchasing an additional 580 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Timken by 16.5% in the third quarter. First Horizon Advisors Inc. now owns 1,823 shares of the industrial products company’s stock valued at $154,000 after buying an additional 258 shares during the last quarter. Howe & Rusling Inc. boosted its holdings in Timken by 7.6% in the third quarter. Howe & Rusling Inc. now owns 4,412 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 311 shares in the last quarter. Commerce Bank grew its stake in shares of Timken by 5.5% during the third quarter. Commerce Bank now owns 5,994 shares of the industrial products company’s stock worth $505,000 after acquiring an additional 310 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of Timken by 7.0% during the third quarter. Segall Bryant & Hamill LLC now owns 150,443 shares of the industrial products company’s stock valued at $12,681,000 after acquiring an additional 9,798 shares in the last quarter. Hedge funds and other institutional investors 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.