TimkenSteel (NYSE:TMST) Reaches New 1-Year High Following Analyst Upgrade

TimkenSteel Co. (NYSE:TMST) hit a new 52-week high during mid-day trading on Monday after KeyCorp raised their price target on the stock from $12.00 to $16.00. KeyCorp currently has an overweight rating on the stock. TimkenSteel traded as high as $15.76 and last traded at $15.56, with a volume of 30848 shares traded. The stock had previously closed at $14.34.

TMST has been the subject of a number of other research reports. TheStreet upgraded TimkenSteel from a “d+” rating to a “c-” rating in a report on Wednesday, April 21st. Zacks Investment Research raised shares of TimkenSteel from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.17.

A number of hedge funds and other institutional investors have recently modified their holdings of TMST. First Quadrant L P CA purchased a new position in TimkenSteel during the 1st quarter valued at about $26,000. ProShare Advisors LLC purchased a new position in TimkenSteel during the fourth quarter valued at approximately $50,000. Citigroup Inc. lifted its holdings in TimkenSteel by 238.3% during the fourth quarter. Citigroup Inc. now owns 11,056 shares of the basic materials company’s stock worth $52,000 after buying an additional 7,788 shares during the period. Credit Suisse AG bought a new stake in TimkenSteel during the 4th quarter valued at $70,000. Finally, Squarepoint Ops LLC raised its position in shares of TimkenSteel by 113.6% in the 4th quarter. Squarepoint Ops LLC now owns 22,008 shares of the basic materials company’s stock worth $103,000 after acquiring an additional 11,703 shares in the last quarter. 58.85% of the stock is owned by institutional investors and hedge funds.

The stock’s 50-day moving average is $11.94 and its 200 day moving average is $7.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.69 and a quick ratio of 0.84. The company has a market cap of $711.14 million, a PE ratio of -5.19 and a beta of 1.91.

TimkenSteel (NYSE:TMST) last announced its quarterly earnings data on Thursday, May 6th. The basic materials company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. TimkenSteel had a negative net margin of 15.79% and a negative return on equity of 13.08%. On average, analysts expect that TimkenSteel Co. will post -1.09 EPS for the current year.

About TimkenSteel (NYSE:TMST)

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. The company operates in SBQ Steel Bar, Seamless Mechanical Steel Tubes, and Billets; and Value-added Precision Products and Services segments. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services.

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