Cowen Just Issued “Outperform” Rating on Timkensteel Corp (TMST)

Timkensteel Corp (TMST) was Reiterated by Cowen to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 28 from a previous price target of $17 . Cowen advised their Clients and Investors in a research report released on Feb 21, 2017.

Based on several research reports , Timkensteel Corp was Downgraded by Macquarie to ” Underperform” on Nov 29, 2016.

On the company’s financial health, Timkensteel Corp reported $-1.52 EPS for the quarter, missing the analyst consensus estimate by $ -1.09 based on the information available during the earnings call on Feb 16, 2017. Analyst had a consensus of $-0.43. The company had revenue of $214.70 million for the quarter, compared to analysts expectations of $200.79 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.58 EPS.

Several company insiders have filed Insider transactions , on May 27, 2016, Ward J Jr Timken (CEO) purchased 20,000 shares at $9.00 per share price. According to the SEC, on May 12, 2016, Ronald A Rice (director) purchased 5,000 shares at $11.13 per share price. On Aug 25, 2015, Randall H Edwards (director) purchased 3,650 shares at $16.64 per share price, according to the Form-4 filing with the securities and exchange commission.

Timkensteel Corp opened for trading at $19.37 and hit $20.15 on the upside on Friday, eventually ending the session at $19.88, with a gain of 12.19% or 2.16 points. The heightened volatility saw the trading volume jump to 24,15,277 shares. Company has a market cap of $879 M.

TimkenSteel Corporation manufactures alloy steel as well as carbon and micro-alloy steel with an annual melt capacity of approximately two million tons. The Company’s portfolio includes special bar quality (SBQ) bars seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution. In addition it supplies machining and thermal treatment services and manages raw material recycling programs which are used as a feeder system for the Company’s operations. Its customers are companies in the market sectors including oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defense; heavy truck; agriculture and power generation. The Company’s steels are featured in a variety of end products including oil drill pipe; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts and anti-friction bearings among others.

Timkensteel Corp

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