Timkensteel (NYSE:TMST) was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued to investors on Monday, Marketbeat reports. The firm currently has a $17.00 price objective on the basic materials company’s stock. KeyCorp’s target price would suggest a potential upside of 6.99% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. ValuEngine cut Timkensteel from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. BidaskClub cut Timkensteel from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Jefferies Group reiterated a “hold” rating and issued a $18.00 price objective on shares of Timkensteel in a report on Sunday, October 29th. Finally, Zacks Investment Research cut Timkensteel from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.20.

Timkensteel (NYSE:TMST) opened at $15.89 on Monday. Timkensteel has a fifty-two week low of $12.48 and a fifty-two week high of $23.00. The company has a quick ratio of 0.90, a current ratio of 1.98 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $648.40, a PE ratio of -16.05 and a beta of 2.21.

Timkensteel (NYSE:TMST) last posted its quarterly earnings data on Thursday, January 25th. The basic materials company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.43). Timkensteel had a negative return on equity of 7.56% and a negative net margin of 3.33%. The firm had revenue of $341.40 million during the quarter, compared to analysts’ expectations of $345.00 million. During the same quarter in the previous year, the company posted ($1.52) earnings per share. Timkensteel’s revenue for the quarter was up 59.0% compared to the same quarter last year. research analysts anticipate that Timkensteel will post 0.52 earnings per share for the current fiscal year.

In related news, insider Tina M. Beskid sold 2,548 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $13.68, for a total transaction of $34,856.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.10% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. boosted its holdings in Timkensteel by 548.3% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 287,861 shares of the basic materials company’s stock valued at $4,750,000 after acquiring an additional 243,457 shares during the period. Wells Fargo & Company MN boosted its holdings in Timkensteel by 381.1% during the 3rd quarter. Wells Fargo & Company MN now owns 167,385 shares of the basic materials company’s stock valued at $2,762,000 after acquiring an additional 132,592 shares during the period. Northern Trust Corp boosted its holdings in Timkensteel by 1.9% during the 2nd quarter. Northern Trust Corp now owns 928,001 shares of the basic materials company’s stock valued at $14,263,000 after acquiring an additional 16,961 shares during the period. Royce & Associates LP boosted its holdings in Timkensteel by 3.8% during the 3rd quarter. Royce & Associates LP now owns 1,139,301 shares of the basic materials company’s stock valued at $18,798,000 after acquiring an additional 42,000 shares during the period. Finally, Teton Advisors Inc. boosted its holdings in Timkensteel by 7.6% during the 3rd quarter. Teton Advisors Inc. now owns 141,799 shares of the basic materials company’s stock valued at $2,340,000 after acquiring an additional 10,000 shares during the period. Institutional investors own 71.77% of the company’s stock.

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Timkensteel Company Profile

TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations.

Analyst Recommendations for Timkensteel (NYSE:TMST)

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