Jefferies Financial Group Reiterates Hold Rating for Timken (NYSE:TKR)

Timken (NYSE:TKR)‘s stock had its “hold” rating reissued by Jefferies Financial Group in a research note issued on Wednesday,Benzinga reports. They currently have a $70.00 target price on the industrial products company’s stock, down from their prior target price of $90.00. Jefferies Financial Group’s target price suggests a potential upside of 1.80% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI upped their target price on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Bank of America upgraded shares of 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 research report on Tuesday, February 4th. Morgan Stanley raised their target price on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Citigroup decreased their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and an average target price of $90.20.

Timken Trading Down 4.3 %

NYSE:TKR opened at $68.76 on Wednesday. Timken has a 52 week low of $66.76 and a 52 week high of $94.71. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.51 and a beta of 1.37. The company’s 50 day moving average price is $77.80 and its 200-day moving average price is $78.16. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, beating 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%. On average, equities research analysts forecast that Timken will post 5.62 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TKR. Wealth Enhancement Advisory Services LLC lifted its position in shares of Timken by 25.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,288 shares of the industrial products company’s stock valued at $520,000 after acquiring an additional 1,489 shares in the last quarter. Phocas Financial Corp. purchased a new position in Timken in the 4th quarter worth approximately $3,623,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Timken in the 4th quarter worth approximately $4,310,000. Mackenzie Financial Corp purchased a new stake in Timken during the 4th quarter valued at approximately $510,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Timken by 5.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 53,606 shares of the industrial products company’s stock valued at $3,826,000 after buying an additional 2,763 shares during the last quarter. 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.