Timken (NYSE:TKR) Price Target Raised to $102.00 at Evercore ISI

Timken (NYSE:TKR) had its price objective upped by investment analysts at Evercore ISI from $91.00 to $102.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Evercore ISI’s target price points to a potential upside of 23.41% from the company’s previous close.

Other research analysts have also recently issued reports about the company. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Morgan Stanley raised their price objective on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and raised their price target for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Finally, Citigroup lowered their price target on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.70.

Timken Stock Performance

NYSE TKR traded down $0.76 during trading on Wednesday, reaching $82.65. The company’s stock had a trading volume of 125,533 shares, compared to its average volume of 691,230. The firm has a 50 day moving average price of $76.22 and a 200 day moving average price of $79.27. Timken has a 12 month low of $69.35 and a 12 month high of $94.71. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 1.49 and a beta of 1.39. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

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

Insider Activity

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.70% of the company’s stock.

Institutional Trading of Timken

A number of hedge funds have recently bought and sold shares of TKR. M&T Bank Corp grew its stake in shares of Timken by 0.6% during the third quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock valued at $2,064,000 after buying an additional 144 shares during the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in Timken by 1.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock worth $1,282,000 after acquiring an additional 155 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Timken by 8.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after buying an additional 158 shares during the last quarter. Blue Trust Inc. lifted its stake in Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 166 shares during the period. Finally, Verdence Capital Advisors LLC raised its holdings in Timken by 3.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 4,539 shares of the industrial products company’s stock worth $383,000 after purchasing an additional 168 shares during the period. Institutional investors own 89.08% of the company’s stock.

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.