Timken (NYSE:TKR) Upgraded to Outperform at Evercore ISI

Timken (NYSE:TKR) was upgraded by Evercore ISI from an “in-line” rating to an “outperform” rating in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $91.00 target price on the industrial products company’s stock, up from their previous target price of $87.00. Evercore ISI’s price target would indicate a potential upside of 21.93% from the stock’s previous close.

TKR has been the subject of a number of other reports. Oppenheimer decreased their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup initiated coverage on Timken in a report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective for the company. DA Davidson decreased their price objective on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, KeyCorp decreased their price objective on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Timken currently has an average rating of “Hold” and a consensus price target of $90.00.

Timken Trading Down 2.5 %

NYSE:TKR opened at $74.63 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. Timken has a one year low of $70.15 and a one year high of $94.71. The business’s 50-day simple moving average is $82.12 and its 200 day simple moving average is $83.60. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.14 and a beta of 1.43.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company earned $1.55 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that Timken will post 5.62 earnings per share for the current fiscal year.

Insider Activity at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now directly owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. raised its position in Timken by 3.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 155 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Timken by 29.4% during the 1st quarter. Russell Investments Group Ltd. now owns 138,705 shares of the industrial products company’s stock valued at $12,127,000 after acquiring an additional 31,552 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Timken by 3.7% during the 1st quarter. William Blair Investment Management LLC now owns 5,896 shares of the industrial products company’s stock valued at $515,000 after acquiring an additional 213 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Timken by 5.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 82,653 shares of the industrial products company’s stock valued at $6,754,000 after acquiring an additional 4,262 shares during the last quarter. Finally, Chesapeake Capital Corp IL bought a new stake in shares of Timken during the 1st quarter valued at $499,000. 89.08% of the stock is owned by institutional investors and hedge funds.

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.