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

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

Several other analysts have also issued reports on TKR. Evercore ISI reduced their price objective on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. DA Davidson reissued a “buy” rating and issued a $103.00 price target on shares of Timken in a research note on Tuesday, September 17th. Finally, Citigroup began coverage on shares of Timken in a 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 stock. According to MarketBeat, Timken presently has an average rating of “Hold” and a consensus price target of $89.60.

Timken Stock Performance

Timken stock opened at $76.85 on Wednesday. The firm has a 50 day simple moving average of $82.41 and a 200-day simple moving average of $83.74. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.64. Timken has a 1-year low of $70.15 and a 1-year high of $94.71.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. On average, analysts expect that Timken will post 5.62 EPS for the current year.

Hedge Funds Weigh In On Timken

Several institutional investors have recently modified their holdings of TKR. Vanguard Group Inc. raised its stake in shares of Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after acquiring an additional 347,794 shares in the last quarter. American Century Companies Inc. raised its position in Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after purchasing an additional 128,791 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Timken by 4.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after buying an additional 107,350 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Timken by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after buying an additional 97,550 shares in the last quarter. Finally, Earnest Partners LLC increased its stake in shares of Timken by 2.1% during the second quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock worth $105,957,000 after buying an additional 26,671 shares during the period. 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.