Morgan Stanley Boosts Timken (NYSE:TKR) Price Target to $94.00

Timken (NYSE:TKR) had its price objective lifted by research analysts at Morgan Stanley from $93.00 to $94.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s target price points to a potential upside of 14.29% from the company’s previous close.

TKR has been the topic of a number of other reports. 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 shares of Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Oppenheimer reduced their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. KeyCorp reissued a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, DA Davidson reduced their price target on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.60.

Timken Price Performance

Shares of Timken stock traded up $0.72 on Tuesday, reaching $82.25. The stock had a trading volume of 157,563 shares, compared to its average volume of 695,838. The business’s 50 day moving average is $75.55 and its two-hundred day moving average is $79.35. The company has a current ratio of 3.07, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. Timken has a 1 year low of $69.35 and a 1 year high of $94.71. The company has a market cap of $5.77 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 1.21 and a beta of 1.39.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, research analysts anticipate that Timken will post 5.6 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vestcor Inc purchased a new position in shares of Timken in the 3rd quarter worth $560,000. TT International Asset Management LTD increased its stake in Timken by 1,075.2% during the third quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock worth $3,310,000 after acquiring an additional 35,932 shares during the last quarter. Barclays PLC raised its position in Timken by 221.6% during the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock valued at $7,307,000 after purchasing an additional 59,716 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Timken in the 3rd quarter valued at approximately $2,863,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Timken by 29.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock valued at $4,327,000 after purchasing an additional 13,697 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Timken Company Profile

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.