Price Action Don’t Lie: Does Timken Co Have More Gas After Reaching 52-Week High?

Price Action Don't Lie: Does Timken Co Have More Gas After Reaching 52 Week High?

The stock of Timken Co (NYSE:TKR) hit a new 52-week high and has $41.63 target or 5.00% above today’s $39.65 share price. The 8 months bullish chart indicates low risk for the $3.17 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $41.63 price target is reached, the company will be worth $158.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock last traded at $39.65 per share. It is down 11.03% since April 21, 2016 and is uptrending. It has outperformed by 5.70% the S&P500.

Analysts await Timken Co (NYSE:TKR) to report earnings on February, 1. They expect $0.44 earnings per share, down 25.42% or $0.15 from last year’s $0.59 per share. TKR’s profit will be $35.18 million for 22.53 P/E if the $0.44 EPS becomes a reality. After $0.49 actual earnings per share reported by Timken Co for the previous quarter, Wall Street now forecasts -10.20% negative EPS growth.

Timken Co (NYSE:TKR) Ratings Coverage

Out of 7 analysts covering The Timken Company (NYSE:TKR), 3 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 43% are positive. The Timken Company has been the topic of 12 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Stifel Nicolaus given on Thursday, October 29. The stock of Timken Co (NYSE:TKR) earned “Neutral” rating by Bank of America on Thursday, November 17. Avondale maintained the stock with “Market Perform” rating in Monday, March 21 report. On Thursday, May 26 the stock rating was initiated by Topeka Capital Markets with “Hold”. The stock has “Buy” rating given by Evercore on Monday, November 7. The stock has “Buy” rating given by Stifel Nicolaus on Thursday, April 28. Goldman Sachs downgraded it to “Neutral” rating and $30 target price in Monday, March 28 report. As per Monday, July 11, the company rating was upgraded by Avondale. Jefferies downgraded Timken Co (NYSE:TKR) on Wednesday, January 20 to “Hold” rating.

According to Zacks Investment Research, “The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company’s growing product and services portfolio features many strong industrial brands including Timken, Fafnir, Philadelphia Gear, Carlisle, Drives and Interlube.”

Insitutional Activity: The institutional sentiment decreased to 1.1 in Q2 2016. Its down 0.04, from 1.14 in 2016Q1. The ratio is negative, as 26 funds sold all Timken Co shares owned while 84 reduced positions. 45 funds bought stakes while 80 increased positions. They now own 58.58 million shares or 2.78% less from 60.25 million shares in 2016Q1.
Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Timken Co (NYSE:TKR) for 2,285 shares. Rhumbline Advisers, a Massachusetts-based fund reported 120,131 shares. Metropolitan Life reported 64,784 shares or 0.01% of all its holdings. Ahl Ptnrs Llp reported 58,464 shares or 0.1% of all its holdings. The Connecticut-based Point72 Asset Mgmt L P has invested 0.02% in Timken Co (NYSE:TKR). Loring Wolcott And Coolidge Fiduciary Llp Ma accumulated 16,000 shares or 0.01% of the stock. Renaissance Tech Lc accumulated 37,600 shares or 0% of the stock. Archford Strategies Ltd accumulated 0% or 10 shares. Enterprise Services Corp accumulated 0% or 80 shares. Parametric Ltd Liability Corp has 0.01% invested in the company for 203,898 shares. Da Davidson holds 206 shares or 0% of its portfolio. Retirement Sys Of Alabama last reported 0.03% of its portfolio in the stock. Gateway Advisers Ltd Liability has 0.03% invested in the company for 127,787 shares. Teachers Retirement Of The State Of Kentucky owns 14,500 shares or 0.01% of their US portfolio. California Public Employees Retirement Systems accumulated 244,600 shares or 0.01% of the stock.

Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 3 sales for $306,295 net activity. WOODS JACQUELINE F also sold $84,350 worth of Timken Co (NYSE:TKR) on Tuesday, May 31. $145,557 worth of Timken Co (NYSE:TKR) was sold by BURKHART WILLIAM R. Shares for $76,388 were sold by Fracassa Philip D. on Wednesday, August 24.

More news for Timken Co (NYSE:TKR) were recently published by: Reuters.com, which released: “BRIEF-Timken Co acquires EDT Corp” on November 01, 2016. Crainscleveland.com‘s article titled: “Timken Co. buys Lovejoy Inc. for $66M, names new president for the maker of …” and published on July 08, 2016 is yet another important article.

TKR Company Profile

The Timken Company, incorporated on December 16, 1904, engineers, makes and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Firm operates through two divisions: Mobile Industries and Process Industries. The Company’s industrial brands include Timken, Fafnir, Philadelphia Gear, Drives and Interlube. The Company’s global footprint consists of approximately 60 manufacturing facilities/service centers, over 10 technology and engineering centers and over 30 distribution centers and warehouses. The Firm operates in approximately 30 countries and territories around the globe. The Firm sells services and products to the market sectors, such as industrial equipment, construction, agriculture, rail, aerospace and defense, automotive, heavy truck and energy.

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