Timken (NYSE:TKR) Now Covered by Analysts at Morgan Stanley

Release Time：09 Jan,2024

<p style="text-align: center;"><img src="/ueditor/php/upload/image/20240109/1704798435256426.png" title="1704798435256426.png" alt="3.png"/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Investment analysts at Morgan Stanley initiated coverage on shares of&nbsp;Timken (NYSE:TKR&nbsp;-&nbsp;Get Free Report)&nbsp;in a research report issued to clients and investors on Monday,&nbsp;Briefing.com&nbsp;reports. The firm set an &quot;equal weight&quot; rating and a $74.00 price target on the industrial products company&#39;s stock. Morgan Stanley&#39;s price objective points to a potential downside of 5.90% from the stock&#39;s previous close.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">TKR has been the topic of a number of other reports. Stifel Nicolaus decreased their price target on Timken from $93.00 to $92.00 and set a &quot;buy&quot; rating on the stock in a research note on Tuesday, December 19th.&nbsp;StockNews.com&nbsp;raised shares of Timken from a &quot;hold&quot; rating to a &quot;buy&quot; rating in a research report on Friday, December 29th. Jefferies Financial Group lowered shares of Timken from a &quot;buy&quot; rating to a &quot;hold&quot; rating and dropped their price target for the stock from $105.00 to $85.00 in a research report on Wednesday, December 20th. Citigroup decreased their price target on shares of Timken from $85.00 to $80.00 and set a &quot;neutral&quot; rating on the stock in a report on Friday, October 13th. Finally, Bank of America cut shares of Timken from a &quot;neutral&quot; rating to an &quot;underperform&quot; rating and lowered their price objective for the company from $100.00 to $74.00 in a research note on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company&#39;s stock. According to data from MarketBeat, the stock presently has a consensus rating of &quot;Hold&quot; and an average price target of $83.89.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Timken Stock Performance</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Shares of&nbsp;NYSE TKR&nbsp;opened at $78.64 on Monday. The company has a 50-day simple moving average of $75.09 and a 200-day simple moving average of $78.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.73 and a quick ratio of 0.93. The company has a market cap of $5.55 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.96 and a beta of 1.56. Timken has a 12 month low of $65.71 and a 12 month high of $95.08.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Timken (NYSE:TKR&nbsp;-&nbsp;Get Free Report) last released its earnings results on Wednesday, November 1st. The industrial products company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.05). Timken had a return on equity of 19.94% and a net margin of 9.09%. The firm had revenue of $1.14 billion during the quarter, compared to analysts&#39; expectations of $1.20 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The firm&#39;s revenue was up .4% on a year-over-year basis. On average, equities analysts anticipate that Timken will post 6.88 earnings per share for the current year.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Insider Activity at Timken</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">In other Timken news, CFO&nbsp;Philip D. Fracassa&nbsp;sold 5,000 shares of the business&#39;s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $74.03, for a total transaction of $370,150.00. Following the transaction, the chief financial officer now owns 88,868 shares in the company, valued at $6,578,898.04. The sale was disclosed in a legal filing with the SEC, which is available at&nbsp;the SEC website. 9.89% of the stock is owned by insiders.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Institutional Investors Weigh In On Timken</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Several hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. acquired a new position in shares of Timken during the second quarter worth $36,000. IFP Advisors Inc lifted its holdings in Timken by 96.3% in the 2nd quarter. IFP Advisors Inc now owns 430 shares of the industrial products company&#39;s stock worth $39,000 after buying an additional 211 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Timken in the 1st quarter valued at about $36,000. Lazard Asset Management LLC acquired a new stake in shares of Timken during the fourth quarter valued at about $34,000. Finally, Money Concepts Capital Corp purchased a new stake in shares of Timken during the fourth quarter worth about $35,000. 84.56% of the stock is currently owned by hedge funds and other institutional investors.</span></p><p><br/></p>