TimkenSteel (TMST) Rating Increased to Buy at ValuEngine

TimkenSteel (NYSE:TMST) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Several other research analysts have also recently issued reports on TMST. Zacks Investment Research raised shares of TimkenSteel from a “sell” rating to a “hold” rating in a report on Thursday, March 29th. KeyCorp set a $19.00 target price on shares of TimkenSteel and gave the stock a “buy” rating in a report on Friday, March 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. TimkenSteel has a consensus rating of “Hold” and a consensus price target of $18.60.

Shares of TimkenSteel stock opened at $18.57 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.08 and a quick ratio of 0.99. The stock has a market capitalization of $816.22 million, a price-to-earnings ratio of -18.57 and a beta of 2.02. TimkenSteel has a 52-week low of $12.48 and a 52-week high of $20.24.

TimkenSteel (NYSE:TMST) last issued its earnings results on Thursday, April 26th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.12). The firm had revenue of $380.80 million during the quarter, compared to analysts’ expectations of $372.50 million. TimkenSteel had a negative return on equity of 7.08% and a negative net margin of 2.92%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the firm posted ($0.12) earnings per share. research analysts predict that TimkenSteel will post 0.5 EPS for the current year.

In other news, VP Tina M. Beskid sold 2,361 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $17.33, for a total transaction of $40,916.13. Following the completion of the transaction, the vice president now directly owns 20,303 shares of the company’s stock, valued at $351,850.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. raised its holdings in shares of TimkenSteel by 13.6% during the fourth quarter. OppenheimerFunds Inc. now owns 58,733 shares of the basic materials company’s stock valued at $892,000 after purchasing an additional 7,032 shares during the last quarter. Royce & Associates LP raised its holdings in shares of TimkenSteel by 30.7% during the fourth quarter. Royce & Associates LP now owns 1,488,988 shares of the basic materials company’s stock valued at $22,618,000 after purchasing an additional 349,687 shares during the last quarter. Barings LLC purchased a new position in shares of TimkenSteel during the fourth quarter valued at approximately $769,000. Spark Investment Management LLC purchased a new position in shares of TimkenSteel during the fourth quarter valued at approximately $429,000. Finally, Wells Fargo & Company MN raised its holdings in shares of TimkenSteel by 15.6% during the fourth quarter. Wells Fargo & Company MN now owns 193,472 shares of the basic materials company’s stock valued at $2,939,000 after purchasing an additional 26,087 shares during the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

About TimkenSteel

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision components, as well as thermal treatment and machining services. The company's products are used in oil country drill pipes; bits and collars; gears; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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