Timken (NYSE:TKR) Receives “Buy” Rating from DA Davidson

Timken (NYSE:TKR)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They currently have a $103.00 target price on the industrial products company’s stock. DA Davidson’s price objective would indicate a potential upside of 26.23% from the company’s current price.

A number of other brokerages also recently issued reports on TKR. KeyCorp boosted their price target on Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Raymond James initiated coverage on Timken in a report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Evercore ISI reduced their price target on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $89.18.

Timken Price Performance

NYSE TKR traded up $0.97 during trading hours on Tuesday, reaching $81.60. 171,578 shares of the stock traded hands, compared to its average volume of 471,076. The stock has a 50 day simple moving average of $82.37 and a two-hundred day simple moving average of $84.56. Timken has a 1 year low of $65.71 and a 1 year high of $94.71. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.69 and a beta of 1.44.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. Timken had a return on equity of 16.36% and a net margin of 7.52%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the business posted $2.01 earnings per share. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, analysts predict that Timken will post 6.13 EPS for the current fiscal year.

Insider Buying and Selling at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,422,800.00. Following the completion of the sale, the chief executive officer now directly owns 274,485 shares in the company, valued at approximately $22,167,408.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC bought a new position in Timken in the 1st quarter worth $26,000. Livelsberger Financial Advisory bought a new position in Timken in the 4th quarter worth $30,000. Versant Capital Management Inc bought a new position in Timken in the 2nd quarter worth $30,000. EverSource Wealth Advisors LLC boosted its holdings in 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 buying an additional 343 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Timken in the 2nd quarter worth $44,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.