Brokerages Set Timken Steel Corporation (TMST) Target Price at $15.67

Timken Steel Corporation (NYSE:TMST) has been assigned an average recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $15.67.

Several brokerages recently commented on TMST. ValuEngine cut shares of Timken Steel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BidaskClub upgraded shares of Timken Steel from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Cowen reiterated a “buy” rating on shares of Timken Steel in a research note on Friday, September 1st. Jefferies Group reiterated a “hold” rating and issued a $18.00 price objective on shares of Timken Steel in a research note on Sunday, October 29th. Finally, KeyCorp cut shares of Timken Steel from a “sector weight” rating to an “underweight” rating and set a $12.00 price objective for the company. in a research note on Wednesday, December 6th.

Shares of Timken Steel (TMST) traded up $0.08 during midday trading on Thursday, hitting $13.45. 768,318 shares of the company traded hands, compared to its average volume of 356,073. The company has a quick ratio of 1.05, a current ratio of 2.21 and a debt-to-equity ratio of 0.28. Timken Steel has a 12-month low of $12.48 and a 12-month high of $23.00.

Timken Steel (NYSE:TMST) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.05). Timken Steel had a negative net margin of 6.39% and a negative return on equity of 12.92%. The company had revenue of $339.10 million during the quarter, compared to analyst estimates of $351.50 million. During the same quarter last year, the business earned ($0.38) EPS. The firm’s revenue for the quarter was up 58.6% on a year-over-year basis. research analysts anticipate that Timken Steel will post -0.56 EPS for the current fiscal year.

In other Timken Steel news, insider Tina M. Beskid sold 2,548 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $13.68, for a total transaction of $34,856.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.10% of the company’s stock.

A number of large investors have recently bought and sold shares of TMST. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Timken Steel by 548.3% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 287,861 shares of the basic materials company’s stock worth $4,750,000 after buying an additional 243,457 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Timken Steel by 1.9% during the second quarter. Northern Trust Corp now owns 928,001 shares of the basic materials company’s stock worth $14,263,000 after buying an additional 16,961 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Timken Steel by 31.0% during the second quarter. Aperio Group LLC now owns 25,156 shares of the basic materials company’s stock worth $387,000 after buying an additional 5,954 shares in the last quarter. Teton Advisors Inc. grew its holdings in shares of Timken Steel by 7.6% during the third quarter. Teton Advisors Inc. now owns 141,799 shares of the basic materials company’s stock worth $2,340,000 after buying an additional 10,000 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Timken Steel by 36.5% during the second quarter. Citigroup Inc. now owns 45,755 shares of the basic materials company’s stock worth $703,000 after buying an additional 12,239 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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Timken Steel Company Profile

TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations.

Analyst Recommendations for Timken Steel (NYSE:TMST)

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