Evercore ISI Cuts Timken (NYSE:TKR) Price Target to $85.00

by · The Markets Daily

Timken (NYSE:TKR – Free Report) had its target price lowered by Evercore ISI from $102.00 to $85.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other brokerages have also recently commented on TKR. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 price objective (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. DA Davidson lifted their price objective on shares of Timken from $66.00 to $71.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Loop Capital reduced their price target on shares of Timken from $85.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Finally, Citigroup boosted their price target on shares of Timken from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Timken presently has a consensus rating of “Hold” and an average target price of $78.50.

Read Our Latest Analysis on Timken

Timken Stock Performance

Shares of NYSE TKR opened at $69.57 on Monday. The firm has a fifty day moving average price of $67.38 and a 200-day moving average price of $73.42. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The stock has a market cap of $4.87 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30. Timken has a 1 year low of $56.20 and a 1 year high of $91.77.

Timken (NYSE:TKR – Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.03). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 earnings per share. Equities analysts anticipate that Timken will post 5.62 earnings per share for the current fiscal year.

Timken Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, May 13th. This is an increase from Timken’s previous quarterly dividend of $0.34. Timken’s payout ratio is currently 30.17%.

Institutional Trading of Timken

Large investors have recently bought and sold shares of the stock. Pinnacle Associates Ltd. lifted its stake in shares of Timken by 0.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 25,605 shares of the industrial products company’s stock valued at $1,840,000 after purchasing an additional 155 shares during the period. First Horizon Advisors Inc. raised its position in shares of Timken by 8.7% in 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. raised its position in shares of Timken by 9.2% in the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company’s stock valued at $147,000 after buying an additional 173 shares during the last quarter. Amundi raised its position in shares of Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares during the last quarter. Finally, Ethic Inc. raised its position in shares of Timken by 2.5% in the first quarter. Ethic Inc. now owns 7,056 shares of the industrial products company’s stock valued at $485,000 after buying an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

About Timken

(Get Free Report)

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.

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