Timken Rating Increased to Neutral at Zacks (TKR)
Resource from: WKRB News Likes:173
Dec 31,2013
Timken Co. logoTimken (NYSE:TKR) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Monday, AnalystRatings.Net reports. The firm currently has a $55.70 price objective on the stock. Zacks‘ price target would indicate a potential upside of 1.75% from the company’s current price.
Timken (NYSE:TKR) traded up 0.67% on Monday, hitting $55.108. 266,251 shares of the company’s stock traded hands. Timken has a 52-week low of $46.03 and a 52-week high of $64.35. The stock’s 50-day moving average is $52.50 and its 200-day moving average is $57.1. The company has a market cap of $5.215 billion and a P/E ratio of 18.47.
Timken (NYSE:TKR) last announced its earnings results on Thursday, October 24th. The company reported $0.54 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.89 by $0.35. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the company posted $0.83 earnings per share. Timken’s revenue was down 7.1% compared to the same quarter last year.
Several other analysts have also recently commented on the stock. Analysts at ISI Group downgraded shares of Timken from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, November 7th. They now have a $53.00 price target on the stock, down previously from $68.00. Separately, analysts at Merrill Lynch downgraded shares of Timken from a “buy” rating to a “neutral” rating in a research note to investors on Friday, October 25th. Finally, analysts at Jefferies Group cut their price target on shares of Timken from $73.00 to $62.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $61.39.
The Timken Company (NYSE:TKR) develops, manufactures, markets and sells products for friction management and mechanical power transmission, alloy steels and steel components.
To view Zacks’ full report, visit www.zacks.com
(WKRB News)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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