Oppenheimer Has Lowered Expectations for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its price objective lowered by stock analysts at Oppenheimer from $90.00 to $88.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target suggests a potential upside of 32.17% from the company’s current price.

Other analysts also recently issued research reports about the stock. Loop Capital dropped their price target on shares of Timken from $85.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. DA Davidson restated a “neutral” rating and issued a $66.00 price target (down from $97.00) on shares of Timken in a research note on Monday, April 21st. Morgan Stanley reduced their price objective on Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Finally, Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and upped their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.20.

Timken Stock Up 3.5 %

TKR stock opened at $66.58 on Thursday. The business has a 50 day moving average of $68.90 and a 200 day moving average of $74.72. The firm has a market cap of $4.66 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. Timken has a twelve month low of $56.20 and a twelve month high of $93.66. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.03). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. Timken’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.77 earnings per share. On average, research analysts forecast that Timken will post 5.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, the chief financial officer now owns 90,541 shares in the company, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Cooke & Bieler LP bought a new position in Timken during the first quarter valued at approximately $18,041,000. Verdence Capital Advisors LLC boosted its position in shares of Timken by 31.2% during the 1st quarter. Verdence Capital Advisors LLC now owns 5,943 shares of the industrial products company’s stock valued at $427,000 after acquiring an additional 1,413 shares during the last quarter. Victory Capital Management Inc. lifted its position in Timken by 108.8% during the first quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company’s stock valued at $132,372,000 after purchasing an additional 959,672 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Timken by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the industrial products company’s stock valued at $1,286,000 after acquiring an additional 200 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in Timken by 108.1% in the first quarter. New York State Common Retirement Fund now owns 424,121 shares of the industrial products company’s stock worth $30,482,000 after acquiring an additional 220,294 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

About Timken

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.