Timken (TKR) Hits New 52-Week High at $52.32
Resource from: Timken Likes:3055
Feb 18,2011
(February 17, 2011)
Shares of Timken (TKR) hit a new 52-week high on Thursday. The stock traded as high as $52.32 during mid-day trading and last traded at $52.28. The stock previously closed at $51.18.
On a related note, analysts at Longbow Research raised their price target on shares of Timken from $55.00 to $60.00 in a research note to investors on Thursday, January 13rd. They now have a “buy” rating on the stock. Separately, analysts at Zacks Investment Research upgraded shares of Timken from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, January 11st.
The Timken Company (Timken) develops, manufactures, markets and sells products for friction management and power transmission, alloy steels and steel components. Timken’s portfolio includes a range of friction management products and maintenance services. The Company also manufactures power transmission components and assemblies, as well as systems such as helicopter transmissions, alloy steel, bars and tubing, finished and semi-finished steel components. Timken’s global footprint consists of 47 manufacturing facilities, eight technology and engineering centers, 12 distribution centers. Timken operates in 26 countries and territories. The Company operates under two business groups: the Steel Group and the Bearings and Power Transmission Group. The Bearings and Power Transmission Group is composed of three operating segments: Mobile Industries, Process Industries and Aerospace and Defense.
Shares of Timken (TKR) traded up 2.38% during mid-day trading on Thursday, hitting $52.40. Timken has a 52 week low of $24.84 and a 52 week high of $52.46. The stock’s 50-day moving average is $49.80 and its 200-day moving average is $42.72. On average, analysts predict that Timken will post $0.95 EPS next quarter. The company has a market cap of $5.080 billion and a price-to-earnings ratio of 18.24.
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(Timken)
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