Cowen and Company Increases TimkenSteel Corp. (TMST) Price Target to $17.00
TimkenSteel Corp. (NYSE:TMST) had its price target upped by stock analysts at Cowen and Company from $15.00 to $17.00 in a report released on Thursday. The brokerage currently has an “outperform” rating on the stock. Cowen and Company’s price target points to a potential upside of 25.00% from the stock’s previous close.
Other analysts have also issued research reports about the company. Jefferies Group dropped their price objective on TimkenSteel Corp. from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, July 29th. Zacks Investment Research upgraded TimkenSteel Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, November 1st.
Shares of TimkenSteel Corp. (NYSE:TMST) opened at 13.60 on Thursday. The firm’s market cap is $601.41 million. TimkenSteel Corp. has a 52 week low of $3.69 and a 52 week high of $14.31. The company has a 50-day moving average price of $10.45 and a 200 day moving average price of $10.21.
TimkenSteel Corp. (NYSE:TMST) last released its quarterly earnings data on Thursday, October 27th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by $0.02. The business earned $213.80 million during the quarter, compared to the consensus estimate of $215.73 million. TimkenSteel Corp. had a negative net margin of 7.69% and a negative return on equity of 9.78%. TimkenSteel Corp.’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.69) EPS. Analysts expect that TimkenSteel Corp. will post ($1.23) EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of TimkenSteel Corp. by 191.2% in the second quarter. BlackRock Inc. now owns 11,076 shares of the company’s stock worth $107,000 after buying an additional 7,272 shares during the period. First Dallas Securities Inc. purchased a new position in shares of TimkenSteel Corp. during the third quarter worth $110,000. BNP Paribas Arbitrage SA raised its position in shares of TimkenSteel Corp. by 84.3% in the second quarter. BNP Paribas Arbitrage SA now owns 12,903 shares of the company’s stock worth $124,000 after buying an additional 5,901 shares during the period. Profund Advisors LLC raised its position in shares of TimkenSteel Corp. by 8.3% in the second quarter. Profund Advisors LLC now owns 12,840 shares of the company’s stock worth $124,000 after buying an additional 982 shares during the period. Finally, KCG Holdings Inc. purchased a new position in shares of TimkenSteel Corp. during the second quarter worth $137,000. Institutional investors own 60.91% of the company’s stock.
About TimkenSteel Corp.
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel, with an annual melt capacity of approximately two million tons. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution.
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