Timken (NYSE:TKR) Lifted to “Buy” at Jefferies Group

Timken (NYSE:TKR) was upgraded by research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, January 18th, Marketbeat.com reports. Jefferies Group also issued estimates for Timken’s Q1 2018 earnings at $0.75 EPS, Q2 2018 earnings at $0.90 EPS, Q3 2018 earnings at $0.85 EPS and Q4 2018 earnings at $0.95 EPS.

TKR has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Timken from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Thursday, September 28th. Longbow Research upgraded shares of Timken from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $52.25.

Timken (NYSE TKR) traded up $0.50 during midday trading on Thursday, hitting $44.45. 1,285,019 shares of the company traded hands, compared to its average volume of 834,972. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.38 and a current ratio of 2.23. Timken has a 1 year low of $41.78 and a 1 year high of $55.65. The company has a market cap of $3,570.39, a price-to-earnings ratio of 17.30, a PEG ratio of 1.21 and a beta of 1.44.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. Timken had a net margin of 6.77% and a return on equity of 14.55%. The business had revenue of $778.00 million for the quarter, compared to analyst estimates of $767.98 million. During the same quarter in the prior year, the business posted $0.47 EPS. Timken’s revenue for the quarter was up 18.8% compared to the same quarter last year. analysts anticipate that Timken will post 3.3 EPS for the current year.

In related news, insider Richard G. Kyle sold 9,242 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total transaction of $459,789.50. Following the sale, the insider now directly owns 89,236 shares of the company’s stock, valued at $4,439,491. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 11.08% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. lifted its holdings in Timken by 0.9% during the fourth quarter. American International Group Inc. now owns 141,340 shares of the industrial products company’s stock valued at $6,947,000 after purchasing an additional 1,200 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Timken by 25.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 6,349 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 1,277 shares in the last quarter. BlackRock Inc. lifted its holdings in Timken by 3.3% during the fourth quarter. BlackRock Inc. now owns 5,734,858 shares of the industrial products company’s stock valued at $281,869,000 after purchasing an additional 183,777 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Timken by 6.7% in the fourth quarter. Rhumbline Advisers now owns 142,381 shares of the industrial products company’s stock worth $6,998,000 after buying an additional 8,962 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Timken by 26.5% in the fourth quarter. Arizona State Retirement System now owns 49,162 shares of the industrial products company’s stock worth $2,416,000 after buying an additional 10,293 shares in the last quarter. 79.33% of the stock is currently owned by institutional investors and hedge funds.

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Timken Company Profile

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

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