Timken (NYSE:TKR) Given New $80.00 Price Target at DA Davidson

Timken (NYSE:TKR - Get Free Report) had its price target raised by DA Davidson from $71.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the industrial products company's stock. DA Davidson's price target would indicate a potential upside of 0.75% from the company's previous close.

A number of other equities research analysts also recently weighed in on TKR. Loop Capital dropped their price target on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $70.00 target price (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Oppenheimer lowered their target price on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Citigroup upped their target price on shares of Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, The Goldman Sachs Group reduced their price target on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $79.90.

Timken Price Performance

Shares of NYSE TKR traded up $0.77 during trading on Tuesday, reaching $79.40. The company had a trading volume of 167,984 shares, compared to its average volume of 586,950. Timken has a 52 week low of $56.20 and a 52 week high of $90.49. The stock has a market cap of $5.56 billion, a PE ratio of 17.11, a PEG ratio of 1.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. The business's 50 day moving average price is $73.04 and its 200-day moving average price is $72.84.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. The company's quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.77 earnings per share. Analysts expect that Timken will post 5.62 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Highland Capital Management LLC boosted its position in Timken by 39.7% during the 2nd quarter. Highland Capital Management LLC now owns 59,260 shares of the industrial products company's stock worth $4,299,000 after buying an additional 16,840 shares during the period. Hilltop National Bank acquired a new stake in Timken during the 2nd quarter worth approximately $74,000. Platinum Investment Management Ltd. acquired a new stake in Timken during the 2nd quarter worth approximately $262,000. Janney Montgomery Scott LLC boosted its position in Timken by 13.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 121,329 shares of the industrial products company's stock worth $8,802,000 after buying an additional 13,954 shares during the period. Finally, Washington Capital Management Inc. acquired a new stake in Timken during the 2nd quarter worth approximately $443,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Company Profile

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.

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