DA Davidson Has Lowered Expectations for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its price objective decreased by equities researchers at DA Davidson from $103.00 to $99.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. DA Davidson’s price target suggests a potential upside of 28.59% from the stock’s previous close. DA Davidson also issued estimates for Timken’s Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $5.57 EPS and FY2025 earnings at $6.47 EPS.

A number of other research firms have also issued reports on TKR. KeyCorp lowered their price target on Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Oppenheimer lowered their target price on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday. Evercore ISI cut their price target on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Citigroup began coverage on shares of Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $89.60.

Timken Price Performance

Shares of NYSE TKR opened at $76.99 on Wednesday. The stock has a market cap of $5.40 billion, a P/E ratio of 16.01, a P/E/G ratio of 1.94 and a beta of 1.43. Timken has a twelve month low of $70.15 and a twelve month high of $94.71. The stock has a 50 day moving average of $82.56 and a two-hundred day moving average of $83.82. The company has a current ratio of 3.00, a quick ratio of 1.64 and a debt-to-equity ratio of 0.71.

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 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the company earned $1.55 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, research analysts forecast that Timken will post 5.62 earnings per share for the current year.

Institutional Investors Weigh In On Timken

Institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in Timken in the 2nd quarter valued at about $4,363,000. Comerica Bank increased its stake in shares of Timken by 13.8% during the 1st quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock worth $5,154,000 after purchasing an additional 7,160 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Timken by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after purchasing an additional 347,794 shares during the last quarter. Sei Investments Co. lifted its stake in Timken by 26.4% in the 1st quarter. Sei Investments Co. now owns 394,170 shares of the industrial products company’s stock valued at $34,462,000 after buying an additional 82,382 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Timken by 29.4% during the 1st quarter. Russell Investments Group Ltd. now owns 138,705 shares of the industrial products company’s stock valued at $12,127,000 after buying an additional 31,552 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.