DA Davidson Lowers Timken (NYSE:TKR) Price Target to $99.00

Timken (NYSE:TKR) had its price target reduced by investment analysts at DA Davidson from $103.00 to $99.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. DA Davidson’s price target would suggest a potential upside of 28.59% from the stock’s current price. DA Davidson also issued estimates for Timken’s Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $5.57 EPS and FY2025 earnings at $6.47 EPS.

Several other research analysts have also weighed in on TKR. Oppenheimer cut their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup assumed coverage on shares of Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price target on the stock. KeyCorp decreased their price target on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Evercore ISI dropped their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Eight 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.com, Timken has an average rating of “Hold” and an average target price of $89.60.

Timken Stock Down 2.8 %

Shares of NYSE TKR opened at $76.99 on Wednesday. The firm has a market cap of $5.40 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.64 and a current ratio of 3.00. Timken has a 1 year low of $70.15 and a 1 year high of $94.71. The firm’s 50 day moving average price is $82.56 and its 200 day moving average price is $83.82.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. Timken’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.55 EPS. As a group, sell-side analysts anticipate that Timken will post 5.62 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC purchased a new position in Timken in the first quarter valued at about $26,000. Coastline Trust Co bought a new stake in shares of Timken during the 3rd quarter valued at about $29,000. Versant Capital Management Inc acquired a new stake in Timken during the second quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Timken by 1,905.6% in the 1st 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 during the last quarter. Finally, Livelsberger Financial Advisory bought a new stake in Timken in the third quarter valued at $32,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.