Timken (TKR) Rating Increased to Buy at Bank of America

Timken (NYSE:TKR) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The firm currently has a $50.00 price objective on the industrial products company’s stock, up from their prior price objective of $45.00. Bank of America’s target price suggests a potential upside of 25.82% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Timken from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Goldman Sachs Group initiated coverage on Timken in a research report on Tuesday, October 2nd. They set a “neutral” rating and a $56.00 target price on the stock. Finally, ValuEngine downgraded Timken from a “sell” rating to a “strong sell” rating in a research report on Friday, October 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $54.40.

NYSE TKR opened at $39.74 on Monday. The firm has a market cap of $3.09 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.64 and a beta of 1.88. The company has a current ratio of 2.72, a quick ratio of 1.44 and a debt-to-equity ratio of 1.03. Timken has a fifty-two week low of $34.90 and a fifty-two week high of $55.65.

Timken (NYSE:TKR) last released its earnings results on Monday, October 29th. The industrial products company reported $1.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). The company had revenue of $881.30 million for the quarter, compared to analysts’ expectations of $912.58 million. Timken had a net margin of 7.89% and a return on equity of 19.58%. Timken’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. On average, equities research analysts anticipate that Timken will post 4.21 EPS for the current year.

In other Timken news, Director Frank C. Sullivan acquired 5,000 shares of the stock in a transaction dated Monday, November 5th. The shares were acquired at an average cost of $41.05 per share, for a total transaction of $205,250.00. Following the completion of the transaction, the director now directly owns 51,932 shares of the company’s stock, valued at $2,131,808.60. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.15% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its position in shares of Timken by 46.7% in the second quarter. BNP Paribas Arbitrage SA now owns 7,588 shares of the industrial products company’s stock valued at $330,000 after acquiring an additional 2,417 shares in the last quarter. GAM Holding AG lifted its position in shares of Timken by 41.6% in the second quarter. GAM Holding AG now owns 14,380 shares of the industrial products company’s stock valued at $626,000 after acquiring an additional 4,223 shares in the last quarter. Boston Partners lifted its position in shares of Timken by 2.6% in the second quarter. Boston Partners now owns 1,944,278 shares of the industrial products company’s stock valued at $84,673,000 after acquiring an additional 48,733 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Timken by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 999,145 shares of the industrial products company’s stock valued at $43,512,000 after acquiring an additional 12,134 shares in the last quarter. Finally, Chicago Equity Partners LLC purchased a new position in shares of Timken in the second quarter valued at about $274,000. Institutional investors and hedge funds own 78.88% of the company’s stock.

About Timken

The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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Analyst Recommendations for Timken (NYSE:TKR)

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