Timken (TKR) Upgraded to “Sell” at ValuEngine
Resource from: https://www.fairfieldcurrent.com/2018/08/05/timken-tkr-upgraded-to-sell-at-valuengine.html Likes:179
Aug 06,2018
ValuEngine upgraded shares of Timken (NYSE:TKR) from a strong sell rating to a sell rating in a research note issued to investors on Saturday, July 28th.
Several other research firms also recently weighed in on TKR. Vertical Research upgraded Timken from a hold rating to a buy rating in a research report on Friday, May 4th. Bank of America boosted their price objective on Timken from $50.00 to $51.00 and gave the company an underperform rating in a research report on Tuesday, May 22nd. KeyCorp upgraded Timken from a sector weight rating to an overweight rating and set a $54.00 price objective on the stock in a research report on Wednesday, June 27th. CL King began coverage on Timken in a research report on Thursday, June 28th. They issued a neutral rating on the stock. Finally, Stifel Nicolaus upgraded Timken from a hold rating to a buy rating and boosted their price objective for the company from $52.00 to $60.00 in a research report on Monday, May 28th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $53.83.Shares of Timken traded down $0.15, reaching $46.50, on Friday, Marketbeat.com reports. The company’s stock had a trading volume of 1,335,728 shares, compared to its average volume of 695,675. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.76 and a beta of 1.60. Timken has a 52 week low of $41.85 and a 52 week high of $55.65. The company has a current ratio of 2.39, a quick ratio of 1.24 and a debt-to-equity ratio of 0.57.
Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.03. The firm had revenue of $906.30 million for the quarter, compared to the consensus estimate of $904.77 million. Timken had a return on equity of 18.39% and a net margin of 7.60%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. equities research analysts forecast that Timken will post 4.12 EPS for the current fiscal year.
In other news, CFO Philip D. Fracassa sold 3,739 shares of the company’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $47.71, for a total transaction of $178,387.69. Following the transaction, the chief financial officer now owns 43,534 shares of the company’s stock, valued at $2,077,007.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ward J. Timken, Jr. sold 4,002 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $49.10, for a total value of $196,498.20. Following the transaction, the director now directly owns 269,902 shares in the company, valued at approximately $13,252,188.20. The disclosure for this sale can be found here. Insiders own 11.15% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. acquired a new position in shares of Timken in the 2nd quarter valued at $7,051,000. Boston Partners increased its position in shares of Timken by 2.6% in the 2nd 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 during the period. Sei Investments Co. increased its position in shares of Timken by 11.1% in the 2nd quarter. Sei Investments Co. now owns 201,451 shares of the industrial products company’s stock valued at $8,772,000 after acquiring an additional 20,082 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Timken in the 2nd quarter valued at $803,000. Finally, Pitcairn Co. purchased a new stake in Timken in the second quarter valued at $233,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.
(https://www.fairfieldcurrent.com/2018/08/05/timken-tkr-upgraded-to-sell-at-valuengine.html)
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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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