Timken Company (The) (TKR) : Traders are bullish on Timken Company (The) (TKR) as it has outperformed the S&P 500 by a wide margin of 8.15% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.63%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.6% in the last 1 week, and is up 8.56% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The Timken Company is up 4.34% in the last 3-month period. Year-to-Date the stock performance stands at 20.81%. The stock has recorded a 20-day Moving Average of 1.99% and the 50-Day Moving Average is 5.27%.
Timken Company (The) (NYSE:TKR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $33.36 and $33.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.81. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.72, notching a gain of 0.36% for the day. The total traded volume was 281,573 . The stock had closed at $33.60 on the previous day.
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.
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.