Timkensteel (NYSE:TMST) was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report released on Monday, MarketBeat reports. The brokerage currently has a $17.00 target price on the basic materials company’s stock. KeyCorp’s price target points to a potential upside of 4.36% from the company’s previous close.
Several other brokerages also recently weighed in on TMST. Zacks Investment Research downgraded shares of Timkensteel from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Jefferies Group reaffirmed a “hold” rating and set a $19.00 price target on shares of Timkensteel in a report on Thursday, October 19th. ValuEngine downgraded shares of Timkensteel from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, BidaskClub downgraded shares of Timkensteel from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.20.
Shares of Timkensteel (NYSE TMST) traded up $1.70 during midday trading on Monday, reaching $16.29. 1,131,409 shares of the company traded hands, compared to its average volume of 708,549. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.98 and a quick ratio of 0.90. The company has a market capitalization of $648.40, a price-to-earnings ratio of -16.45 and a beta of 2.21. Timkensteel has a 12 month low of $12.48 and a 12 month high of $23.00.
In other Timkensteel news, insider Tina M. Beskid sold 2,548 shares of Timkensteel stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $13.68, for a total transaction of $34,856.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. 8.10% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. First Dallas Securities Inc. purchased a new position in Timkensteel during the fourth quarter valued at approximately $125,000. Acadian Asset Management LLC purchased a new position in shares of Timkensteel in the fourth quarter worth $137,000. Trexquant Investment LP purchased a new position in shares of Timkensteel in the third quarter worth $179,000. Teacher Retirement System of Texas purchased a new position in shares of Timkensteel in the fourth quarter worth $195,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Timkensteel in the third quarter worth $212,000. 71.77% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: “Timkensteel (TMST) Upgraded by KeyCorp to Overweight” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this story on another publication, it was copied illegally and republished in violation of US & international trademark and copyright legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/02/12/timkensteel-tmst-upgraded-by-keycorp-to-overweight.html.
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations.
Receive News & Ratings for Timkensteel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timkensteel and related companies with MarketBeat.com's FREE daily email newsletter.