Timken Co (TKR) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 40 from a previous price target of $34 . Stifel advised their investors in a research report released on Apr 28, 2016.
Many Wall Street Analysts have commented on Timken Co. Timken Co was Downgraded by Goldman to ” Neutral” on Mar 28, 2016. Timken Co was Downgraded by Avondale to ” Mkt Perform” on Feb 18, 2016.
On the company’s financial health, Timken Co reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.43. The company had revenue of $684.00 million for the quarter, compared to analysts expectations of $666.68 million. The company’s revenue was down -5.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.50 EPS.
Timken Co closed down -0.7 points or -1.92% at $35.8 with 14,65,086 shares getting traded on Wednesday. Post opening the session at $36.57, the shares hit an intraday low of $34.67 and an intraday high of $36.57 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Dec 2, 2015, William R Burkhart (EVP, GC and Secretary) sold 45 shares at $32.16 per share price. According to the SEC, on May 22, 2015, Ward J Jr Timken (director) sold 88,314 shares at $40.62 per share price. On May 15, 2015, Jacqueline F Woods (director) sold 2,000 shares at $40.50 per share price, according to the Form-4 filing with the securities and exchange commission.
The Timken Company (Timken) engineers manufactures and markets bearings transmissions gearboxes chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries which offers bearings seals lubrication devices and systems as well as power transmission components engineered chain augers and related products and maintenance services and Process Industries which provides industrial bearings and assemblies power transmission components such as gears and gearboxes couplings seals lubricants chains and related products and services. The Companys industrial brands include Timken Fafnir Philadelphia Gear Drives and Interlube. The Company sells products and services to the following market sectors: industrial equipment construction agriculture rail aerospace and defense automotive heavy truck and energy.