Loop Capital Issues Pessimistic Forecast for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its target price lowered by Loop Capital from $85.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Loop Capital’s target price would suggest a potential upside of 6.21% from the stock’s previous close.

A number of other brokerages have also recently weighed in on TKR. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Evercore ISI raised their price target on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. The Goldman Sachs Group lowered their target price on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Citigroup decreased their price objective on shares of Timken from $95.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $70.00 price target (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.91.

Timken Trading Up 0.4 %

TKR traded up $0.23 during trading on Thursday, reaching $61.20. 98,108 shares of the company’s stock were exchanged, compared to its average volume of 550,672. The firm has a market capitalization of $4.28 billion, a PE ratio of 12.28, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The company’s fifty day moving average price is $73.37 and its 200-day moving average price is $76.35. Timken has a fifty-two week low of $56.20 and a fifty-two week high of $94.71.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, equities analysts forecast that Timken will post 5.62 EPS for the current year.

Insider Buying and Selling

In related news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, the chief financial officer now owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is owned by corporate insiders.

Institutional Trading of Timken

Several hedge funds have recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of Timken during the 4th quarter valued at $29,000. Amundi increased its position in shares of Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 174 shares in the last quarter. Parvin Asset Management LLC bought a new position in Timken during the 4th quarter valued at $66,000. UMB Bank n.a. grew its holdings in Timken by 400.0% during the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 800 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Timken by 282.3% in the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company’s stock worth $82,000 after buying an additional 847 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

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.