The Timken (NYSE:TKR) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of The Timken (NYSE:TKR) from a hold rating to a buy rating in a report issued on Saturday, March 24th. The brokerage currently has $51.00 price target on the industrial products company’s stock.

According to Zacks, “The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company’s growing product and services portfolio features many strong industrial brands including Timken, Fafnir, Philadelphia Gear, Carlisle, Drives and Interlube. “

Other equities analysts have also issued reports about the company. Longbow Research raised The Timken from a neutral rating to a buy rating in a research note on Tuesday, January 2nd. Stifel Nicolaus dropped their price target on The Timken from $53.00 to $52.00 and set a hold rating for the company in a research note on Thursday, February 8th. Finally, Jefferies Group raised The Timken from a hold rating to a buy rating in a research note on Thursday, January 18th. One investment 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 presently has a consensus rating of Hold and an average target price of $51.00.

The Timken stock traded up $0.25 during midday trading on Friday, reaching $46.35. 438,708 shares of the stock traded hands, compared to its average volume of 821,203. The Timken has a 12 month low of $41.85 and a 12 month high of $55.65. The firm has a market cap of $3,590.40, a PE ratio of 17.62, a PEG ratio of 1.13 and a beta of 1.47. The company has a current ratio of 2.23, a quick ratio of 1.13 and a debt-to-equity ratio of 0.58.

The Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The Timken had a return on equity of 14.55% and a net margin of 6.77%. The company had revenue of $778.00 million during the quarter, compared to analyst estimates of $767.98 million. During the same period in the prior year, the company earned $0.47 earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. equities research analysts forecast that The Timken will post 3.53 earnings per share for the current fiscal year.

In other news, Director Jacqueline F. Woods sold 3,350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $45.12, for a total value of $151,152.00. Following the completion of the sale, the director now directly owns 15,878 shares of the company’s stock, valued at approximately $716,415.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard G. Kyle sold 3,084 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.74, for a total value of $144,146.16. The disclosure for this sale can be found here. 11.15% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. American International Group Inc. lifted its stake in shares of The Timken by 0.9% during the 4th quarter. American International Group Inc. now owns 141,340 shares of the industrial products company’s stock worth $6,947,000 after acquiring an additional 1,200 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in shares of The Timken by 25.2% during the 4th quarter. Itau Unibanco Holding S.A. now owns 6,349 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 1,277 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of The Timken by 9.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 17,682 shares of the industrial products company’s stock worth $858,000 after acquiring an additional 1,453 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of The Timken by 33.6% during the 4th quarter. Advisor Group Inc. now owns 5,903 shares of the industrial products company’s stock worth $291,000 after acquiring an additional 1,484 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in shares of The Timken by 9.6% during the 4th quarter. OppenheimerFunds Inc. now owns 17,354 shares of the industrial products company’s stock worth $853,000 after acquiring an additional 1,522 shares during the last quarter. 80.10% of the stock is owned by hedge funds and other institutional investors.

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The Timken Company Profile

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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