D.A. Davidson analyst Michael Shlisky maintains $The Timken (TKR.US)$ with a buy rating, and sets the target price at $99.
According to TipRanks data, the analyst has a success rate of 36.9% and a total average return of -1.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $The Timken (TKR.US)$'s main analysts recently are as follows:
Timken's shares witnessed a notable 12.9% drop after the company reported third quarter results that fell short of expectations, alongside revised forward guidance for 2024. The third quarter witnessed a slight revenue overperformance, with the shortfall largely linked to unique, presumably non-recurring factors. The updated guidance for the fourth quarter seems to err on the side of caution, with current order rates and cost-reduction efforts potentially allowing for some upward revision. Most crucially, the long-term investment thesis remains largely intact, with a positive outlook on Timken's ability to significantly enhance profitable growth through both organic and strategic acquisitions.
The shares of Timken experienced a significant decrease after the release of its Q3 results and subsequent conference call. This downtrend is thought to be a result of the company's Q3 performance not meeting expectations, Q4 projections falling short of consensus, and initial cautious commentary looking towards 2025. As a consequence of these factors, estimates have been adjusted.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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