Timken Co (TKR) was Initiated by Topeka Capital Markets to “Hold” and the brokerage firm has set the Price Target at $35. Topeka Capital Markets advised their investors in a research report released on May 26, 2016.
Many Wall Street Analysts have commented on Timken Co. Company shares were Reiterated by Stifel on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $34 .Timken Co was Downgraded by Goldman to ” Neutral” on Mar 28, 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 opened for trading at $33.47 and hit $34.16 on the upside on Wednesday, eventually ending the session at $34.04, with a gain of 2.47% or 0.82 points. The heightened volatility saw the trading volume jump to 5,06,669 shares. Company has a market cap of $2,697 M.
In a different news, on May 25, 2016, Jacqueline F Woods (director) sold 1,250 shares at $33.27 per share price. According to the SEC, on Dec 2, 2015, William R Burkhart (EVP, GC and Secretary) sold 45 shares at $32.16 per share price. On May 22, 2015, Ward J Jr Timken (director) sold 88,314 shares at $40.62 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.