Timkensteel (TMST) Upgraded by KeyCorp to Overweight

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.

Timkensteel (NYSE:TMST) last announced its earnings results on Thursday, January 25th. The basic materials company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.43). The business had revenue of $341.40 million for the quarter, compared to the consensus estimate of $345.00 million. Timkensteel had a negative net margin of 3.33% and a negative return on equity of 7.56%. The business’s quarterly revenue was up 59.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.52) earnings per share. analysts predict that Timkensteel will post 0.52 EPS for the current fiscal year.

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.

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About Timkensteel

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.

Analyst Recommendations for Timkensteel (NYSE:TMST)

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