Oppenheimer Issues Pessimistic Forecast for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its price objective decreased by Oppenheimer from $102.00 to $97.00 in a research note released on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

Several other equities analysts have also recently weighed in on TKR. Evercore ISI dropped their price target on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Citigroup began coverage on Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. Finally, DA Davidson reissued a “buy” rating and issued a $103.00 price target on shares of Timken in a research report on Tuesday, September 17th. Eight research 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, the company has a consensus rating of “Hold” and a consensus target price of $89.60.

Timken Stock Performance

Shares of Timken stock opened at $76.85 on Wednesday. The business has a 50-day simple moving average of $82.41 and a 200 day simple moving average of $83.76. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.64. Timken has a one year low of $70.15 and a one year high of $94.71.

Timken (NYSE:TKR) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. Timken’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 earnings per share. On average, research analysts anticipate that Timken will post 5.62 earnings per share for the current fiscal year.

Institutional Trading of Timken

A number of large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new position in shares of Timken during the 1st quarter valued at approximately $26,000. Coastline Trust Co purchased a new position in Timken in the third quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased its position in Timken by 1,905.6% in the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after buying an additional 343 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Timken in the second quarter valued at $30,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Timken during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

About Timken

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.