Oppenheimer Has Lowered Expectations for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its price target decreased by stock analysts at Oppenheimer from $102.00 to $97.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective indicates a potential upside of 25.99% from the company’s current price.

Several other brokerages have also recently weighed in on TKR. Evercore ISI lowered their target price 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 issued a $103.00 price objective on shares of Timken in a research note on Tuesday, September 17th. Finally, Citigroup initiated coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $89.60.

Timken Trading Down 2.8 %

NYSE TKR opened at $76.99 on Wednesday. The stock has a market cap of $5.40 billion, a PE ratio of 16.01, a PEG ratio of 1.90 and a beta of 1.43. Timken has a 12 month low of $70.15 and a 12 month high of $94.71. The company’s 50-day moving average price is $82.56 and its 200-day moving average price is $83.82. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72.

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

Institutional Trading of Timken

Several hedge funds have recently modified their holdings of TKR. Fidelis Capital Partners LLC bought a new position in shares of Timken during the 1st quarter worth approximately $26,000. Coastline Trust Co purchased a new position in Timken in the third quarter worth $29,000. EverSource Wealth Advisors LLC increased its position in shares of Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 343 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Timken during the 2nd quarter valued at $30,000. Finally, Livelsberger Financial Advisory purchased a new position in Timken during the 3rd quarter worth $32,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

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.