Timken Company (The) (TKR) : 4 brokerage houses believe that Timken Company (The) (TKR) is a Strong Buy at current levels. 2 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Timken Company (The) (TKR). Zacks Investment Research suggests a Sell with a rank of 4.The median of all the 6 Wall Street Analysts endorse the stock as a Buy with a rating of 1.67.
Timken Company (The) (TKR) has been rated by 4 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $40 and the lowest price target forecast is $32. The average forecast of all the analysts is $35.5 and the expected standard deviation is $3.32.
Also, In the latest statement by the brokerage house, Avondale Partners upgrades its outlook on Timken Company (The) (NYSE:TKR). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of Market Perform. The rating by the firm was issued on July 11, 2016.
Timken Company (The) (NYSE:TKR): After opening at $31.92, the stock dipped to an intraday low of $31.76 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $32.585 and the buying power remained strong till the end. The stock closed at $32.53 for the day, a gain of 2.07% for the day session. The total traded volume was 660,337. The stocks close on the previous trading day was $31.87.
The Timken Company (Timken) engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries, which offers bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers and related products and maintenance services, and Process Industries, which provides industrial bearings and assemblies, power transmission components such as gears and gearboxes, couplings, seals, lubricants, chains and related products and services. The Companys industrial brands include Timken, Fafnir, Philadelphia Gear, Drives and Interlube. The Company sells products and services to the following market sectors: industrial equipment, construction, agriculture, rail, aerospace and defense, automotive, heavy truck and energy.