Oppenheimer Raises Timken (NYSE:TKR) Price Target to $104.00

Timken (NYSE:TKR) had its target price hoisted by analysts at Oppenheimer from $90.00 to $104.00 in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective points to a potential upside of 10.83% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. The Goldman Sachs Group restated a “neutral” rating and set a $88.00 price objective on shares of Timken in a research report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on Timken from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded Timken from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Timken in a research report on Wednesday, January 21st. Finally, Citigroup increased their target price on shares of Timken from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Timken presently has an average rating of “Hold” and an average price target of $85.30.

Timken Price Performance

TKR stock opened at $93.84 on Monday. Timken has a 52 week low of $56.20 and a 52 week high of $95.19. The firm has a market capitalization of $6.54 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.83 and a beta of 1.21. The company has a fifty day simple moving average of $86.41 and a two-hundred day simple moving average of $80.23. The company has a quick ratio of 1.71, a current ratio of 3.11 and a debt-to-equity ratio of 0.63.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.12. Timken had a net margin of 6.54% and a return on equity of 11.88%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm posted $1.23 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts anticipate that Timken will post 5.62 earnings per share for the current fiscal year.

Insider Activity at Timken

In related news, Director Richard G. Kyle sold 15,837 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $81.03, for a total value of $1,283,272.11. Following the completion of the sale, the director directly owned 266,942 shares of the company’s stock, valued at $21,630,310.26. This represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.37% of the company’s stock.

Institutional Investors Weigh In On Timken

A number of institutional investors have recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new position in Timken in the third quarter worth about $25,000. Eastern Bank purchased a new position in shares of Timken in the 4th quarter worth approximately $27,000. SJS Investment Consulting Inc. raised its stake in shares of Timken by 4,512.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 369 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 361 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Timken during the fourth quarter valued at approximately $31,000. Finally, CWM LLC boosted its stake in Timken by 31.4% in the second quarter. CWM LLC now owns 527 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 126 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

About Timken

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken’s products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken’s portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.