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

Timken (NYSE:TKR) had its price objective reduced by investment analysts at KeyCorp from $104.00 to $90.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price suggests a potential upside of 16.90% from the company’s previous close.

A number of other equities research analysts have also commented on TKR. DA Davidson reissued a “buy” rating and issued a $103.00 price target on shares of Timken in a research report on Tuesday, September 17th. Evercore ISI lowered their target price on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Citigroup began coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target on the stock. Finally, Oppenheimer reduced their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $89.60.

Timken Stock Down 2.8 %

Timken stock opened at $76.99 on Wednesday. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average price is $82.56 and its two-hundred day moving average price is $83.82. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.90 and a beta of 1.43. Timken has a 1-year low of $70.15 and a 1-year high of $94.71.

Timken (NYSE:TKR) last announced its quarterly earnings results 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). 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 7.52% and a return on equity of 16.36%. Timken’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 EPS. On average, equities research analysts predict that Timken will post 6.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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