Timken (NYSE:TKR) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Timken from “buy” to “hold.” Analyst views remain broadly positive: seven rate the stock Buy and three Hold, giving it a “Moderate Buy” consensus and a $141.20 average price target.
• Timken reported quarterly earnings of $1.65 per share, beating the $1.48 consensus estimate. Revenue was $1.21 billion, in line with estimates and up 4.7% year over year.
• Timken shares opened at $108.78, below their 50-day and 200-day moving averages of $114.43 and $117.83, respectively.

Timken (NYSE:TKR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

TKR has been the subject of several other research reports. Weiss Ratings upgraded Timken from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 20th. DA Davidson set a $123.00 target price on shares of Timken in a report on Wednesday. Bank of America raised shares of Timken from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $129.00 to $135.00 in a research note on Tuesday, September 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $126.00 target price on shares of Timken in a research note on Thursday, November 5th. Finally, Jefferies Financial Group set a $135.00 price target on shares of Timken in a report on Tuesday, September 1st. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Timken currently has a consensus rating of "Moderate Buy" and an average price target of $141.20.

Timken Stock Down 1.5%

Shares of NYSE:TKR opened at $108.78 on Friday. The stock's 50-day moving average price is $114.43 and its 200-day moving average price is $117.83. Timken has a 12-month low of $73.62 and a 12-month high of $146.37. The stock has a market capitalization of $7.47 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.19. The company has a current ratio of 2.56, a quick ratio of 1.40 and a debt-to-equity ratio of 0.52.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.48 by $0.17. Timken had a return on equity of 13.13% and a net margin of 5.88%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the business earned $1.37 earnings per share. The company's quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Timken will post 6.40 earnings per share for the current year.

Institutional Investors Weigh In On Timken

Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace LLP bought a new position in shares of Timken during the third quarter valued at approximately $2,697,000. Steward Partners Investment Advisory LLC boosted its holdings in Timken by 2.5% in the third quarter. Steward Partners Investment Advisory LLC now owns 68,108 shares of the industrial products company's stock valued at $7,952,000 after acquiring an additional 1,681 shares in the last quarter. Winslow Asset Management Inc. increased its position in Timken by 1.7% during the 3rd quarter. Winslow Asset Management Inc. now owns 6,031 shares of the industrial products company's stock valued at $704,000 after purchasing an additional 100 shares during the period. AlphaGrep UK Ltd purchased a new position in Timken during the 3rd quarter valued at $649,000. Finally, Private Advisor Group LLC bought a new position in Timken in the 3rd quarter worth $222,000. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Company Profile

Timken is a global manufacturer of engineered bearings and industrial motion products. Its offerings include bearings, seals, lubrication systems, chains, belts, couplings and related components designed to support the movement and operation of industrial equipment. The company serves customers across a range of industries, including aerospace, agriculture, construction, energy, rail, mining and manufacturing. In addition to products, Timken provides services such as equipment repair and maintenance to help customers manage machinery performance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.