Jefferies Maintains Timkensteel Corp to Hold with Price Target $9.75

Brokerage firm Jefferies Maintains its rating on Timkensteel Corp(NYSE:TMST). In a research note issued to the investors, the brokerage major Lowers the price-target to $9.75 per share. The shares have been rated Hold. The rating by Jefferies was issued on Sep 15, 2016.

In a different note, On Aug 11, 2016, Cowen & Company said it Upgrades its rating on Timkensteel Corp. The shares have been rated ‘Outperform’ by the firm. On Jul 29, 2016, Jefferies said it Maintains its rating on Timkensteel Corp. In the research note, the firm Lowers the price-target to $12.00 per share. The shares have been rated ‘Hold’ by the firm.

Timkensteel Corp (TMST) shares turned negative on Tuesdays trading session with the shares closing down -0.17 points or -1.97% at a volume of 3,32,983. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8.82. The peak price level was also seen at $8.82 while the days lowest was $8.465. Finally the shares closed at $8.48. The 52-week high of the shares is $15.25 while the 52-week low is $3.69. According to the latest information available, the market cap of the company is $375 M.

Timkensteel Corp(TMST) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $223.10M. Analysts had an estimated revenue of $234.22M. Earnings per share were $-0.24. Analysts had estimated an EPS of $-0.26.

Several Insider Transactions has been reported to the SEC. On May 27, 2016, Ward J Jr Timken (CEO) purchased 20,000 shares at $9.00 per share price.Also, On May 12, 2016, Ronald A Rice (director) purchased 5,000 shares at $11.13 per share price.On Aug 25, 2015, Randall H Edwards (director) purchased 3,650 shares at $16.64 per share price, according to the Form-4 filing with the securities and exchange commission.

TimkenSteel Corporation manufactures alloy steel as well as carbon and micro-alloy steel with an annual melt capacity of approximately two million tons. The Company’s 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 Company’s 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 Company’s 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.

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