Stifel Nicolaus Trims Timken (TKR) Target Price to $52.00

Timken (NYSE:TKR) had its price target cut by equities research analysts at Stifel Nicolaus from $53.00 to $52.00 in a report released on Thursday, Marketbeat reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price points to a potential upside of 16.99% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research raised Timken from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Tuesday, February 6th. Jefferies Group raised Timken from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Finally, Longbow Research raised Timken from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.25.

Shares of Timken (NYSE:TKR) traded up $0.50 during mid-day trading on Thursday, hitting $44.45. The company had a trading volume of 1,285,019 shares, compared to its average volume of 885,637. Timken has a 52-week low of $41.78 and a 52-week high of $55.65. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.23 and a quick ratio of 1.38. The company has a market cap of $3,450.08, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.18 and a beta of 1.44.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. Timken had a return on equity of 14.55% and a net margin of 6.77%. The firm had revenue of $778.00 million during the quarter, compared to analyst estimates of $767.98 million. During the same period last year, the company earned $0.47 EPS. Timken’s quarterly revenue was up 18.8% compared to the same quarter last year. equities research analysts anticipate that Timken will post 3.25 earnings per share for the current fiscal year.

In other Timken news, insider Richard G. Kyle sold 9,242 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $49.75, for a total transaction of $459,789.50. Following the transaction, the insider now directly owns 89,236 shares in the company, valued at approximately $4,439,491. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.08% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TKR. Wells Fargo & Company MN increased its holdings in Timken by 116.9% during the 4th quarter. Wells Fargo & Company MN now owns 945,600 shares of the industrial products company’s stock worth $46,477,000 after purchasing an additional 509,673 shares during the period. Koch Industries Inc. purchased a new position in Timken during the 2nd quarter worth $375,000. Renaissance Technologies LLC purchased a new position in Timken during the 2nd quarter worth $17,219,000. Anchor Bolt Capital LP increased its holdings in Timken by 155.5% during the 3rd quarter. Anchor Bolt Capital LP now owns 425,625 shares of the industrial products company’s stock worth $20,664,000 after purchasing an additional 259,028 shares during the period. Finally, Lord Abbett & CO. LLC increased its holdings in Timken by 20.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,350,766 shares of the industrial products company’s stock worth $62,473,000 after purchasing an additional 230,730 shares during the period. Institutional investors own 79.33% of the company’s stock.

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About Timken

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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