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

Timken (NYSE:TKR) had its target price dropped by equities research analysts at Oppenheimer from $102.00 to $97.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target indicates a potential upside of 25.99% from the stock’s current price.

Several other research firms also recently commented on TKR. Citigroup initiated coverage on shares of Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective for the company. DA Davidson reissued a “buy” rating and set a $103.00 price target on shares of Timken in a research note on Tuesday, September 17th. Finally, Evercore ISI reduced their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $89.60.

Timken Stock Down 2.8 %

Shares of TKR opened at $76.99 on Wednesday. The business’s 50 day moving average is $82.56 and its 200 day moving average is $83.82. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. Timken has a 12-month low of $70.15 and a 12-month high of $94.71. The company has a market capitalization of $5.40 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.90 and a beta of 1.43.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.52% and a return on equity of 16.36%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the business earned $1.55 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Research analysts expect that Timken will post 6.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Timken

Several large investors have recently modified their holdings of TKR. Thrivent Financial for Lutherans lifted its position in Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after buying an additional 107,350 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Timken by 7.6% in the 3rd quarter. Natixis Advisors LLC now owns 31,637 shares of the industrial products company’s stock worth $2,667,000 after acquiring an additional 2,235 shares during the last quarter. Coastline Trust Co purchased a new position in shares of Timken during the 3rd quarter worth about $29,000. Connable Office Inc. grew its holdings in Timken by 33.9% during the 3rd quarter. Connable Office Inc. now owns 5,868 shares of the industrial products company’s stock valued at $495,000 after purchasing an additional 1,487 shares during the last quarter. Finally, Royce & Associates LP raised its position in Timken by 73.2% in the 3rd quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock worth $16,054,000 after purchasing an additional 80,513 shares during the period. Institutional investors own 89.08% of the company’s stock.

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.