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Analysts at BB&T Corp. cut their target price on shares of Timken (NYSE:TKR) from $78.00 to $57.00 in a report issued on Tuesday. BB&T Corp.’s target price indicates a potential upside of 18.26% from the stock’s previous close.

Shares of Timken (NYSE:TKR) traded down 0.74% during mid-day trading on Tuesday, hitting $48.20. The stock had a trading volume of 2,482,037 shares. Timken has a 1-year low of $35.9485 and a 1-year high of $49.7566. The stock’s 50-day moving average is $46.83 and its 200-day moving average is $42.8. The company has a market cap of $4.398 billion and a P/E ratio of 16.96.

Timken (NYSE:TKR) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.90 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.81 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company posted $0.80 earnings per share. Timken’s revenue was up 1.3% compared to the same quarter last year. On average, analysts predict that Timken will post $3.83 earnings per share for the current fiscal year.

A number of other firms have also recently commented on TKR. Analysts at Jefferies Group initiated coverage on shares of Timken in a research note on Monday. They set a “buy” rating on the stock. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Timken in a research note on Tuesday, June 24th. They now have a $56.00 price target on the stock, down previously from $65.00. Finally, analysts at Stifel Nicolaus cut their price target on shares of Timken from $65.00 to $56.00 in a research note on Tuesday, June 24th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $62.81.

The Timken Company (NYSE:TKR)develops, manufactures, markets and sells products for friction management and mechanical power transmission, alloy steels and steel components.

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