The Goldman Sachs Group Issues Pessimistic Forecast for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its price objective dropped by equities researchers at The Goldman Sachs Group from $85.00 to $75.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 6.49% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Citigroup reduced their price target on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and upped their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Morgan Stanley lifted their price objective on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Evercore ISI upped their target price on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a research note on Wednesday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Timken currently has an average rating of “Moderate Buy” and an average target price of $88.82.

Timken Price Performance

Shares of TKR stock traded up $1.69 during trading hours on Wednesday, hitting $70.43. The company had a trading volume of 431,318 shares, compared to its average volume of 521,076. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.51 and a beta of 1.37. Timken has a 12 month low of $66.75 and a 12 month high of $94.71. The firm’s fifty day moving average is $77.80 and its 200 day moving average is $78.16.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. On average, sell-side analysts predict that Timken will post 5.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in shares of Timken in the 4th quarter valued at about $29,000. Amundi increased its position in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after buying an additional 174 shares during the last quarter. Parvin Asset Management LLC bought a new stake in Timken in the fourth quarter valued at approximately $66,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Timken in the fourth quarter valued at approximately $109,000. Finally, AlphaQuest LLC boosted its stake in shares of Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 1,559 shares during the period. 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.