Timken (NYSE:TKR) Rating Increased to Buy at Bank of America

Timken (NYSE:TKR) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “buy” rating in a research note issued to investors on Tuesday, January 7th, Marketbeat Ratings reports. The firm presently has a $68.00 price objective on the industrial products company’s stock. Bank of America‘s price target would indicate a potential upside of 18.08% from the company’s previous close.

Several other analysts have also weighed in on TKR. KeyCorp boosted their target price on shares of Timken from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley upped their price target on shares of Timken from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Stifel Nicolaus upped their price target on shares of Timken from $58.00 to $64.00 and gave the company a “buy” rating in a report on Friday, December 13th. ValuEngine raised shares of Timken from a “strong sell” rating to a “sell” rating in a report on Thursday, October 31st. Finally, Zacks Investment Research upgraded Timken from a “strong sell” rating to a “hold” rating and set a $60.00 price objective on the stock in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Timken currently has a consensus rating of “Hold” and a consensus target price of $62.50.

Shares of TKR stock opened at $57.59 on Tuesday. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.49 and a beta of 1.84. The company has a quick ratio of 1.42, a current ratio of 2.57 and a debt-to-equity ratio of 0.89. Timken has a fifty-two week low of $37.74 and a fifty-two week high of $58.61. The firm’s 50 day moving average price is $55.65 and its two-hundred day moving average price is $48.24.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Timken had a return on equity of 21.12% and a net margin of 8.11%. The firm had revenue of $914.00 million for the quarter, compared to analyst estimates of $945.87 million. During the same period in the previous year, the firm posted $1.06 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Timken will post 4.72 EPS for the current fiscal year.

In other Timken news, CAO Shelly Marie Chadwick bought 1,183 shares of Timken stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $52.73 per share, for a total transaction of $62,379.59. Also, CFO Philip D. Fracassa sold 5,234 shares of Timken stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $53.03, for a total value of $277,559.02. Following the transaction, the chief financial officer now owns 60,995 shares of the company’s stock, valued at $3,234,564.85. The disclosure for this sale can be found here. Insiders have sold a total of 77,977 shares of company stock worth $4,145,196 in the last ninety days. Insiders own 11.58% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Howe & Rusling Inc. boosted its stake in shares of Timken by 5.3% during the 3rd quarter. Howe & Rusling Inc. now owns 5,596 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 282 shares during the period. Creative Planning lifted its position in shares of Timken by 5.0% during the 3rd quarter. Creative Planning now owns 6,828 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 325 shares during the period. California State Teachers Retirement System lifted its position in shares of Timken by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 110,336 shares of the industrial products company’s stock valued at $4,801,000 after acquiring an additional 337 shares during the period. Flagship Harbor Advisors LLC lifted its position in shares of Timken by 72.6% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 918 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 386 shares during the period. Finally, Comerica Bank lifted its position in shares of Timken by 0.9% during the 3rd quarter. Comerica Bank now owns 55,004 shares of the industrial products company’s stock valued at $2,560,000 after acquiring an additional 497 shares during the period. Institutional investors own 76.06% of the company’s stock.

About Timken

The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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Analyst Recommendations for Timken (NYSE:TKR)

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