KeyCorp Cuts Timken (NYSE:TKR) Price Target to $90.00

Timken (NYSE:TKR) had its price target lowered by investment analysts at KeyCorp from $104.00 to $90.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target indicates a potential upside of 23.97% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Evercore ISI cut their price target on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. DA Davidson reaffirmed a “buy” rating and set a $103.00 price target on shares of Timken in a report on Tuesday, September 17th. Citigroup assumed coverage on Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target for the company. Finally, Oppenheimer cut their price target on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $90.00.

Timken Price Performance

Shares of TKR opened at $72.60 on Wednesday. The stock has a market capitalization of $5.09 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.90 and a beta of 1.43. Timken has a twelve month low of $70.15 and a twelve month high of $94.71. The company has a 50 day moving average of $82.77 and a 200-day moving average of $83.91. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. Timken’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. As a group, equities research analysts forecast that Timken will post 6.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the transaction, the chief executive officer now owns 244,485 shares in the company, valued at approximately $19,671,263.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new position in Timken in the second quarter valued at about $4,363,000. Comerica Bank boosted its stake in shares of Timken by 13.8% during the first quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock valued at $5,154,000 after purchasing an additional 7,160 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after purchasing an additional 347,794 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Timken by 26.4% during the first quarter. Sei Investments Co. now owns 394,170 shares of the industrial products company’s stock valued at $34,462,000 after purchasing an additional 82,382 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Timken by 29.4% during the first quarter. Russell Investments Group Ltd. now owns 138,705 shares of the industrial products company’s stock valued at $12,127,000 after purchasing an additional 31,552 shares in the last quarter. 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.