Timken Steel Corporation (TMST) stock is expected to deviate a maximum of $2.83 from the average target price of $13 for the short term period. 2 Street Experts have initiated coverage on the stock with the most promising target being $15 and the most muted being $11.
Timken Steel Corporation (TMST) : 4 analysts are covering Timken Steel Corporation (TMST) and their average rating on the stock is 2, which is read as a Buy. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 4, which recommends a Sell affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Also, Equity analysts at the Brokerage firm Cowen & Company upgrades its rating on Timken Steel Corporation (NYSE:TMST). The rating major has initiated the coverage with outperform rating on the shares. Earlier, the shares were rated a Market Perform by the brokerage firm. The rating by the firm was issued on August 11, 2016.
Timken Steel Corporation (NYSE:TMST): The stock opened at $9.80 on Thursday but the bulls could not build on the opening and the stock topped out at $9.90 for the day. The stock traded down to $9.51 during the day, due to lack of any buying support eventually closed down at $9.69 with a loss of -1.62% for the day. The stock had closed at $9.85 on the previous day. The total traded volume was 415,425 shares.
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel, with an annual melt capacity of approximately two million tons. The Companys portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution. In addition, it supplies machining and thermal treatment services and manages raw material recycling programs, which are used as a feeder system for the Companys operations. Its customers are companies in the market sectors, including oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defense; heavy truck; agriculture, and power generation. The Companys steels are featured in a variety of end products, including oil drill pipe; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts, and anti-friction bearings, among others.