Citigroup Issues Pessimistic Forecast for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its price target decreased by investment analysts at Citigroup from $95.00 to $70.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price points to a potential upside of 10.11% from the stock’s previous close.

TKR has been the subject of a number of other reports. Morgan Stanley boosted their target price on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. The Goldman Sachs Group lowered their target price on shares of Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price target (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Finally, Evercore ISI lifted their price target on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.45.

Timken Stock Performance

Shares of NYSE TKR opened at $63.57 on Tuesday. The company has a market cap of $4.45 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. Timken has a 12 month low of $56.20 and a 12 month high of $94.71. 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 company has a 50-day simple moving average of $75.26 and a 200-day simple moving average of $77.08.

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, beating 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, equities analysts anticipate that Timken will post 5.62 earnings per share for the current year.

Insider Transactions at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of Timken 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 owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Timken

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Timken by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company’s stock worth $461,461,000 after buying an additional 26,973 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock worth $225,436,000 after buying an additional 320,354 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Timken by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company’s stock worth $159,403,000 after buying an additional 124,676 shares during the last quarter. State Street Corp increased its stake in shares of Timken by 3.5% in the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after buying an additional 66,208 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in shares of Timken by 0.3% in the fourth quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company’s stock worth $92,433,000 after buying an additional 3,594 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.