Zacks Raises Timken to Neutral (TKR)

Resource from: Jags Report Likes:244

Dec 27,2012

Zacks upgraded shares of Timken (NYSE: TKR) from an underperform rating to a neutral rating in a research report sent to investors on Wednesday morning. The firm currently has $47.60 price target on the stock. Other equities research analysts have also recently issued reports about the stock. Analysts at Longbow Research downgraded shares of Timken from a buy rating to a neutral rating in a research note to investors on Tuesday, December 4th. Separately, analysts at Jefferies Group downgraded shares of Timken from a buy rating to a hold rating in a research note to investors on Thursday, November 29th. They now have a $45.00 price target on the stock. Finally, analysts at William Blair reiterated a market perform rating on shares of Timken in a research note to investors on Thursday, November 29th. Shares of Timken traded down 0.26% during mid-day trading on Wednesday, hitting $46.49. Timken has a 52 week low of $32.59 and a 52 week high of $57.94. The company has a market cap of $4.456 billion and a P/E ratio of 8.65. Timken last announced its earnings results on Thursday, October 25th. The company reported $0.83 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.01 by $0.18. The company’s quarterly revenue was down 13.6% on a year-over-year basis. On average, analysts predict that Timken will post $4.49 earnings per share for the current fiscal year. The Timken Company (Timken) develops, manufactures, markets and sells products for friction management and power transmission, alloy steels and steel components. To view Zacks' full report, visit www.zacks.com

(Jags Report)

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