Citigroup Issues Positive Forecast for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its price target boosted by equities research analysts at Citigroup from $70.00 to $75.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target suggests a potential upside of 9.30% from the stock’s previous close.

Several other equities research analysts also recently commented on TKR. Evercore ISI lifted their price objective on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. The Goldman Sachs Group decreased their price objective on shares of Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. DA Davidson raised their target price on shares of Timken from $66.00 to $71.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and increased their price target for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Finally, Loop Capital cut their price objective on Timken from $85.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $80.20.

Timken Stock Performance

Shares of Timken stock opened at $68.62 on Thursday. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. Timken has a 1 year low of $56.20 and a 1 year high of $93.66. The firm’s 50-day moving average is $67.77 and its 200 day moving average is $74.06.

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

Institutional Investors Weigh In On Timken

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its position in shares of Timken by 79.4% in the fourth quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company’s stock worth $1,915,000 after purchasing an additional 11,876 shares during the period. Barclays PLC increased its stake in Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock worth $7,307,000 after buying an additional 59,716 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Timken by 29.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock valued at $4,327,000 after acquiring an additional 13,697 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Timken in the fourth quarter valued at about $14,460,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Timken by 25.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company’s stock worth $7,644,000 after acquiring an additional 22,003 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Timken Company Profile

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.