Oppenheimer Issues Pessimistic Forecast for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its target price lowered by Oppenheimer from $102.00 to $97.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

TKR has been the subject of a number of other reports. Citigroup initiated coverage on shares of Timken in a report on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price for the company. Evercore ISI lowered their price target on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, DA Davidson reaffirmed a “buy” rating and set a $103.00 target price on shares of Timken in a research report on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.60.

Timken Stock Performance

Timken stock traded down $0.72 during trading hours on Wednesday, reaching $78.49. 126,723 shares of the stock were exchanged, compared to its average volume of 481,322. The firm’s 50 day moving average is $82.70 and its 200 day moving average is $83.87. Timken has a 52-week low of $70.15 and a 52-week high of $94.71. The stock has a market cap of $5.50 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.90 and a beta of 1.43. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.52% and a return on equity of 16.36%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts predict that Timken will post 6.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Fidelis Capital Partners LLC bought a new position in shares of Timken in the first quarter worth about $26,000. Texas Permanent School Fund Corp increased its holdings in shares of Timken by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,806 shares of the industrial products company’s stock worth $4,967,000 after purchasing an additional 736 shares during the period. Manchester Capital Management LLC raised its position in shares of Timken by 51.3% during the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock valued at $53,000 after buying an additional 205 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Timken by 3.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 155 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in shares of Timken by 16.2% during the first quarter. Oppenheimer & Co. Inc. now owns 59,460 shares of the industrial products company’s stock valued at $5,199,000 after purchasing an additional 8,285 shares during the period. 89.08% of the stock is owned by institutional investors.

Timken Company Profile

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.