Timken (NYSE:TKR) Price Target Cut to $75.00 by Analysts at The Goldman Sachs Group

Timken (NYSE:TKR) had its price target reduced by The Goldman Sachs Group from $85.00 to $75.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 6.49% from the stock’s current price.

Several other brokerages also recently issued reports on TKR. Citigroup lowered their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. 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. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and raised their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a report on Wednesday. Finally, Evercore ISI boosted their price objective on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and an average target price of $88.82.

Timken Price Performance

Shares of NYSE:TKR traded up $1.69 during midday trading on Wednesday, hitting $70.43. 431,318 shares of the stock were exchanged, compared to its average volume of 521,076. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The stock has a market cap of $4.93 billion, a P/E ratio of 14.11, a PEG ratio of 1.51 and a beta of 1.37. The company has a 50 day moving average price of $77.80 and a 200-day moving average price of $78.16. Timken has a twelve month low of $66.75 and a twelve month high of $94.71.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. On average, research analysts forecast that Timken will post 5.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Philip D. Fracassa sold 5,000 shares of the company’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 sale, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

A number of hedge funds have recently bought and sold shares of TKR. M&T Bank Corp boosted its stake in Timken by 0.6% during the 3rd quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock valued at $2,064,000 after purchasing an additional 144 shares during the period. First Horizon Advisors Inc. boosted 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 acquiring an additional 158 shares during the period. Amundi grew its stake in shares of Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 174 shares during the last quarter. WESCAP Management Group Inc. raised its stake in Timken by 1.1% during the 3rd quarter. WESCAP Management Group Inc. now owns 17,433 shares of the industrial products company’s stock valued at $1,469,000 after purchasing an additional 186 shares during the last quarter. Finally, Ethic Inc. grew its position in Timken by 2.8% in the 4th quarter. Ethic Inc. now owns 6,882 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 188 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

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.