Zacks Investment Research upgraded shares of TimkenSteel Corp. (NYSE:TMST) from a sell rating to a hold rating in a research note published on Friday morning.

According to Zacks, “TimkenSteel Corporation engages in manufacturing alloy steel, as well as carbon and micro-alloy steel. The company provides air-melted alloy steel bars, tubes, and precision components, as well as value-added services, including thermal treatment and machining. Its customers include companies in the market sectors: oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defence; heavy truck; agriculture, and power generation. TimkenSteel Corporation is headquartered in Canton, Ohio. “

A number of other research firms have also recently issued reports on TMST. Cowen and Company raised shares of TimkenSteel Corp. from a market perform rating to an outperform rating and set a $15.00 price objective on the stock in a research report on Thursday, August 11th. Jefferies Group dropped their price target on shares of TimkenSteel Corp. from $12.00 to $11.00 and set a hold rating on the stock in a research report on Friday, July 29th.

Shares of TimkenSteel Corp. (NYSE:TMST) opened at 8.48 on Friday. The firm’s market capitalization is $374.99 million. TimkenSteel Corp. has a 12 month low of $3.69 and a 12 month high of $15.25. The firm’s 50-day moving average is $9.45 and its 200 day moving average is $10.01.

TimkenSteel Corp. (NYSE:TMST) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.02. The company had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $234.22 million. TimkenSteel Corp. had a negative net margin of 9.13% and a negative return on equity of 11.76%. The business’s revenue was down 19.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.54) EPS. On average, equities research analysts anticipate that TimkenSteel Corp. will post ($1.23) EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Virginia Retirement System acquired a new position in shares of TimkenSteel Corp. during the first quarter valued at $491,000. IFP Advisors Inc raised its stake in TimkenSteel Corp. by 20.9% in the first quarter. IFP Advisors Inc now owns 17,098 shares of the company’s stock valued at $156,000 after buying an additional 2,954 shares during the period. Pacad Investment Ltd. purchased a new stake in TimkenSteel Corp. during the first quarter valued at approximately $121,000. Prudential Financial Inc. raised its stake in TimkenSteel Corp. by 49.4% in the first quarter. Prudential Financial Inc. now owns 132,157 shares of the company’s stock valued at $1,203,000 after buying an additional 43,700 shares during the period. Finally, BlackRock Fund Advisors raised its stake in TimkenSteel Corp. by 1.1% in the first quarter. BlackRock Fund Advisors now owns 2,422,780 shares of the company’s stock valued at $22,047,000 after buying an additional 25,950 shares during the period. 60.50% of the stock is currently owned by institutional investors and hedge funds.

TimkenSteel Corp. Company Profile

TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel, with an annual melt capacity of approximately two million tons. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution.

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