Loop Capital Increases Timken (NYSE:TKR) Price Target to $87.00

Timken (NYSE:TKR - Get Free Report) had its target price hoisted by Loop Capital from $78.00 to $87.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a "hold" rating on the industrial products company's stock. Loop Capital's price target points to a potential downside of 0.55% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. DA Davidson assumed coverage on shares of Timken in a research note on Tuesday, January 23rd. They set a "buy" rating and a $92.00 target price on the stock. Morgan Stanley started coverage on shares of Timken in a report on Monday, January 8th. They issued an "equal weight" rating and a $74.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Timken from $78.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, February 6th. Evercore ISI downgraded Timken from an "outperform" rating to an "in-line" rating and set a $84.00 price target on the stock. in a research note on Tuesday, February 20th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $100.00 price objective (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Timken has an average rating of "Hold" and a consensus target price of $86.73.

Timken Stock Down 2.0 %

Shares of NYSE:TKR traded down $1.74 during trading on Wednesday, reaching $87.48. 738,183 shares of the stock traded hands, compared to its average volume of 507,237. The stock has a market cap of $6.16 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.20 and a beta of 1.54. Timken has a 52-week low of $65.71 and a 52-week high of $95.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.79. The stock has a 50-day moving average of $85.62 and a two-hundred day moving average of $79.72.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.15 billion. Timken had a return on equity of 19.57% and a net margin of 8.26%. The company's revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 earnings per share. As a group, sell-side analysts expect that Timken will post 6.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its position in shares of Timken by 7.7% in the third quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company's stock worth $134,233,000 after purchasing an additional 131,253 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Timken by 15.8% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company's stock valued at $105,247,000 after buying an additional 178,870 shares in the last quarter. Fiduciary Management Inc. WI raised its position in shares of Timken by 94.7% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company's stock valued at $90,816,000 after buying an additional 551,097 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Timken by 0.5% in the third quarter. Brown Advisory Inc. now owns 776,345 shares of the industrial products company's stock worth $57,054,000 after buying an additional 4,000 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Timken by 16.8% during the third quarter. AQR Capital Management LLC now owns 764,174 shares of the industrial products company's stock worth $56,159,000 after acquiring an additional 109,767 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

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.