Timken Co. (TKR) Lifted to “Buy” at Evercore ISI
A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Timken from a hold rating to a strong sell rating in a research note on Wednesday, November 2nd. Avondale Partners raised shares of Timken from a market perform rating to an outperform rating and set a $35.00 target price on the stock in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $33.86.
Timken (NYSE:TKR) opened at 36.75 on Monday. The company has a 50-day moving average price of $34.14 and a 200 day moving average price of $33.30. The company has a market cap of $2.86 billion, a PE ratio of 31.71 and a beta of 1.44. Timken has a 52 week low of $22.22 and a 52 week high of $37.07.
Timken (NYSE:TKR) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.03. The firm had revenue of $657.40 million for the quarter, compared to analyst estimates of $1.28 billion. Timken had a net margin of 3.40% and a return on equity of 12.38%. Timken’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.55 EPS. On average, equities research analysts forecast that Timken will post $1.93 EPS for the current fiscal year.
In related news, CFO Philip D. Fracassa sold 2,229 shares of Timken stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $34.27, for a total value of $76,387.83. Following the completion of the sale, the chief financial officer now owns 30,784 shares in the company, valued at approximately $1,054,967.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William R. Burkhart sold 4,235 shares of Timken stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $34.37, for a total transaction of $145,556.95. Following the completion of the sale, the executive vice president now owns 40,607 shares of the company’s stock, valued at approximately $1,395,662.59. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Pinkerton Retirement Specialists LLC bought a new stake in Timken during the second quarter valued at $125,000. LS Investment Advisors LLC increased its position in Timken by 75.0% in the second quarter. LS Investment Advisors LLC now owns 4,222 shares of the company’s stock valued at $129,000 after buying an additional 1,810 shares during the period. Invictus RG increased its position in Timken by 61.0% in the first quarter. Invictus RG now owns 4,168 shares of the company’s stock valued at $140,000 after buying an additional 1,579 shares during the period. Cantab Capital Partners LLP acquired a new position in Timken during the second quarter valued at approximately $140,000. Finally, US Bancorp DE increased its position in Timken by 12.5% in the second quarter. US Bancorp DE now owns 5,273 shares of the company’s stock valued at $162,000 after buying an additional 584 shares during the period. Hedge funds and other institutional investors own 76.10% of the company’s stock.
Timken Company Profile
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries, which offers bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers and related products and maintenance services, and Process Industries, which provides industrial bearings and assemblies, power transmission components such as gears and gearboxes, couplings, seals, lubricants, chains and related products and services.
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