Timken (NYSE:TKR) Price Target Cut to $99.00 by Analysts at DA Davidson

Timken (NYSE:TKR) had its target price lowered by DA Davidson from $103.00 to $99.00 in a report released on Wednesday morning,Benzinga reports. DA Davidson currently has a buy rating on the industrial products company’s stock. 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.

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

Timken Stock Performance

TKR stock opened at $76.85 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $5.39 billion, a PE ratio of 15.98, a P/E/G ratio of 1.14 and a beta of 1.43. The business has a 50 day moving average of $82.41 and a 200-day moving average of $83.74. Timken has a 12-month low of $70.15 and a 12-month high of $94.71.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion during 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 firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. As a group, sell-side analysts expect that Timken will post 5.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Fidelis Capital Partners LLC bought a new stake in Timken during the first quarter worth about $26,000. Coastline Trust Co purchased a new position in shares of Timken during the third quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Timken by 1,905.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 343 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Timken in the 2nd quarter valued at $30,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Timken during the 3rd quarter valued at $32,000. 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.