Bank of America Gives Timken (NYSE:TKR) a Higher Rating. Raises its Underperform Rating

August 9, 2018 - By Victoria Pittman

The Timken Company (NYSE:TKR) Logo

Investors sentiment increased to 0.94 in Q1 2018. Its up 0.06, from 0.88 in 2017Q4. It is positive, as 32 investors sold The Timken Company shares while 101 reduced holdings. 43 funds opened positions while 82 raised stakes. 58.66 million shares or 1.14% less from 59.34 million shares in 2017Q4 were reported.

New Hampshire-based Charter Co has invested 0.2% in The Timken Company (NYSE:TKR). Assetmark has 3,002 shares for 0% of their portfolio. Credit Suisse Ag owns 66,477 shares. Bragg Financial holds 0.19% of its portfolio in The Timken Company (NYSE:TKR) for 28,675 shares. California Public Employees Retirement Systems invested in 0.01% or 187,592 shares. Whittier Trust Of Nevada stated it has 0% of its portfolio in The Timken Company (NYSE:TKR). Ameriprise Inc reported 244,874 shares. 16,886 are owned by Stone Ridge Asset Mgmt Ltd Liability Corp. 35,745 are owned by Bb&T Securities Limited Com. Victory Cap Management accumulated 1.22 million shares or 0.12% of the stock. Bnp Paribas Arbitrage has invested 0% in The Timken Company (NYSE:TKR). The Pennsylvania-based Sei Investments Communication has invested 0.03% in The Timken Company (NYSE:TKR). Barrow Hanley Mewhinney Strauss Ltd Limited Liability Company reported 602 shares. Plante Moran Ltd Liability Corporation, a Michigan-based fund reported 53 shares. The Illinois-based Citadel Advsr Ltd Liability Corporation has invested 0.01% in The Timken Company (NYSE:TKR).

Since February 20, 2018, it had 1 insider buy, and 4 insider sales for $580,479 activity. $144,146 worth of stock was sold by Kyle Richard G on Thursday, February 22. WOODS JACQUELINE F had sold 3,350 shares worth $151,152 on Tuesday, February 20. 4,002 shares valued at $196,493 were sold by TIMKEN WARD J JR on Wednesday, May 30. Fracassa Philip D. sold $178,388 worth of The Timken Company (NYSE:TKR) on Tuesday, May 8.

Timken (NYSE:TKR) Stock Upgrade

Timken (NYSE:TKR)‘s stock was raised to a solid Neutral by equity analysts at Bank of America. TKR’s past Underperform rating is has been discontinued by the brokerage firm.

The Timken Company (NYSE:TKR) Ratings Coverage

Among 5 analysts covering Timken (NYSE:TKR), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. Timken has $60 highest and $51 lowest target. $54.33’s average target is 11.39% above currents $48.775 stock price. Timken had 7 analyst reports since May 4, 2018 according to SRatingsIntel. On Wednesday, August 8 the stock rating was upgraded by Bank of America to “Neutral”. The company was upgraded on Wednesday, June 27 by KeyBanc Capital Markets. Bank of America maintained it with “Underperform” rating and $51 target in Tuesday, May 22 report. On Wednesday, August 1 the stock rating was maintained by KeyBanc Capital Markets with “Overweight”. The firm earned “Buy” rating on Friday, May 4 by Vertical Research. Stifel Nicolaus upgraded the shares of TKR in report on Tuesday, May 29 to “Buy” rating.

The stock increased 0.36% or $0.175 during the last trading session, reaching $48.775. About 47,479 shares traded. The Timken Company (NYSE:TKR) has risen 7.38% since August 9, 2017 and is uptrending. It has underperformed by 5.19% the S&P500.

Analysts await The Timken Company (NYSE:TKR) to report earnings on October, 24. They expect $1.06 earnings per share, up 49.30 % or $0.35 from last year’s $0.71 per share. TKR’s profit will be $81.74M for 11.50 P/E if the $1.06 EPS becomes a reality. After $1.11 actual earnings per share reported by The Timken Company for the previous quarter, Wall Street now forecasts -4.50 % negative EPS growth.

The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, couplings, and related products worldwide. The company has market cap of $3.76 billion. It operates through two divisions, Mobile Industries and Process Industries. It has a 15.15 P/E ratio. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, and related products and maintenance services to original equipment manufacturers and end users of off-highway equipment, such as agricultural, construction, mining, outdoor power equipment, and powersports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

More recent The Timken Company (NYSE:TKR) news were published by: Seekingalpha.com which released: “Timken to acquire Cone Drive” on July 24, 2018. Also Benzinga.com published the news titled: “Bank Of America’s Bearish Thesis On Timken Ends” on August 08, 2018. Seekingalpha.com‘s news article titled: “Timken Co. 2018 Q2 – Results – Earnings Call Slides” with publication date: July 31, 2018 was also an interesting one.

The Timken Company (NYSE:TKR) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.