Timken (TKR) Shares Down 2.3% Following Analyst Downgrade

Timken Co (NYSE:TKR) shares traded down 2.3% during trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $53.00 to $52.00. Stifel Nicolaus currently has a hold rating on the stock. Timken traded as low as $45.85 and last traded at $44.92. 646,973 shares were traded during mid-day trading, a decline of 16% from the average session volume of 770,160 shares. The stock had previously closed at $46.00.

Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Timken from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Tuesday. Jefferies Group upgraded shares of Timken from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Finally, Longbow Research upgraded shares of Timken from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Timken currently has a consensus rating of “Hold” and an average target price of $52.25.

In other Timken news, insider Richard G. Kyle sold 9,242 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total value of $459,789.50. Following the sale, the insider now directly owns 89,236 shares in the company, valued at approximately $4,439,491. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of TKR. Cerebellum GP LLC acquired a new stake in Timken in the 4th quarter worth $128,000. Contravisory Investment Management Inc. acquired a new stake in shares of Timken during the 4th quarter valued at about $148,000. Advisor Group Inc. boosted its position in shares of Timken by 19.7% during the 2nd quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 666 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Timken during the 4th quarter valued at about $201,000. Finally, Creative Planning acquired a new stake in shares of Timken during the 4th quarter valued at about $210,000. Institutional investors own 79.33% of the company’s stock.

The company has a current ratio of 2.23, a quick ratio of 1.38 and a debt-to-equity ratio of 0.58. The company has a market cap of $3,450.00, a PE ratio of 17.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.45.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. Timken had a net margin of 6.77% and a return on equity of 14.55%. The business had revenue of $778.00 million for the quarter, compared to analyst estimates of $767.98 million. During the same period in the previous year, the business earned $0.47 EPS. The firm’s revenue was up 18.8% on a year-over-year basis. equities analysts expect that Timken Co will post 3.3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.43%. Timken’s dividend payout ratio (DPR) is currently 41.86%.

COPYRIGHT VIOLATION NOTICE: “Timken (TKR) Shares Down 2.3% Following Analyst Downgrade” was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this report can be accessed at https://sportsperspectives.com/2018/02/10/timken-tkr-shares-down-2-3-following-analyst-downgrade.html.

Timken Company Profile

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply