Timken Co (TKR) Given Consensus Recommendation of “Hold” by Brokerages
Timken Co (NYSE:TKR) has been assigned an average rating of “Hold” from the seven analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $51.33.
A number of equities analysts have recently commented on TKR shares. Zacks Investment Research downgraded shares of Timken from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Jefferies Group reissued a “hold” rating and issued a $50.00 target price on shares of Timken in a research note on Thursday, October 26th.
In related news, insider Richard G. Kyle sold 9,242 shares of Timken stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total transaction of $459,789.50. Following the sale, the insider now owns 89,236 shares of the company’s stock, valued at approximately $4,439,491. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.08% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TKR. Bank of Montreal Can increased its stake in Timken by 6.8% during the 2nd quarter. Bank of Montreal Can now owns 4,785 shares of the industrial products company’s stock worth $221,000 after buying an additional 303 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Timken by 4.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 390,652 shares of the industrial products company’s stock worth $18,068,000 after buying an additional 15,695 shares during the period. Bank of New York Mellon Corp increased its stake in Timken by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,019 shares of the industrial products company’s stock worth $50,181,000 after buying an additional 17,945 shares during the period. Legal & General Group Plc increased its stake in Timken by 14.1% during the 2nd quarter. Legal & General Group Plc now owns 88,879 shares of the industrial products company’s stock worth $4,110,000 after buying an additional 10,985 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Timken by 62.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 29,233 shares of the industrial products company’s stock worth $1,352,000 after buying an additional 11,253 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.
Timken (NYSE TKR) opened at $49.15 on Tuesday. Timken has a one year low of $39.40 and a one year high of $53.10. The company has a quick ratio of 1.38, a current ratio of 2.59 and a debt-to-equity ratio of 0.66. The company has a market cap of $3,810.00, a price-to-earnings ratio of 19.58, a PEG ratio of 1.62 and a beta of 1.50.
Timken (NYSE:TKR) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. Timken had a net margin of 6.88% and a return on equity of 13.75%. The business had revenue of $771.40 million for the quarter, compared to the consensus estimate of $758.91 million. During the same quarter last year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. sell-side analysts forecast that Timken will post 2.62 earnings per share for the current year.
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The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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