Today’s Rating: Is It Finally Time To Sell? Macquarie Downgrades TimkenSteel (NYSE:TMST)

November 29, 2016 - By Nellie Frank

Today's Rating: Is It Finally Time To Sell? Macquarie Downgrades TimkenSteel (NYSE:TMST)

TimkenSteel (NYSE:TMST) Downgrade

TimkenSteel (NYSE:TMST) was downgraded by analysts at Macquarie from a Neutral rating to a Underperform rating in a note revealed to investors on Tuesday morning.

Timkensteel Corp (NYSE:TMST) Ratings Coverage

Out of 3 analysts covering TimkenSteel (NYSE:TMST), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. $28 is the highest target while $8 is the lowest. The $18.50 average target is 23.09% above today’s ($15.03) stock price. TimkenSteel has been the topic of 8 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of Timkensteel Corp (NYSE:TMST) has “Buy” rating given on Wednesday, September 16 by Jefferies. The firm has “Outperform” rating given on Thursday, August 6 by Cowen & Co. Cowen & Co downgraded the shares of TMST in a report on Monday, September 14 to “Market Perform” rating. The firm has “Hold” rating by Jefferies given on Wednesday, January 13. Cowen & Co maintained the stock with “Market Perform” rating in Wednesday, February 3 report. Cowen & Co maintained Timkensteel Corp (NYSE:TMST) rating on Thursday, November 17. Cowen & Co has “Outperform” rating and $17 price target. The stock of Timkensteel Corp (NYSE:TMST) has “Outperform” rating given on Thursday, August 11 by Cowen & Co. As per Monday, August 31, the company rating was initiated by KeyBanc Capital Markets.

About 483,144 shares traded hands. Timkensteel Corp (NYSE:TMST) has risen 21.40% since April 26, 2016 and is uptrending. It has outperformed by 16.14% the S&P500.

Analysts await Timkensteel Corp (NYSE:TMST) to report earnings on January, 26. They expect $-0.41 earnings per share, up 29.31% or $0.17 from last year’s $-0.58 per share. After $-0.38 actual earnings per share reported by Timkensteel Corp for the previous quarter, Wall Street now forecasts 7.89% negative EPS growth.

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 has a market cap of $640.05 million. The Company’s portfolio includes special bar quality bars, seamless mechanical tubing and precision steel components. It currently has negative earnings. It operates in two divisions: Industrial & Mobile and Energy & Distribution.

According to Zacks Investment Research, “TimkenSteel Corporation engages in manufacturing alloy steel, as well as carbon and micro-alloy steel. The company provides air-melted alloy steel bars, tubes, and precision components, as well as value-added services, including thermal treatment and machining. Its customers include companies in the market sectors: oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defence; heavy truck; agriculture, and power generation. TimkenSteel Corporation is headquartered in Canton, Ohio.”

TMST Company Profile

TimkenSteel Corporation, incorporated on October 24, 2013, makes 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. The Firm operates in two divisions: 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.

More notable recent Timkensteel Corp (NYSE:TMST) news were published by: Marketwatch.com which released: “TimkenSteel upgraded to outperform from market perform at Cowen & Co.” on July 07, 2014, also Fool.com with their article: “Why Shares of TimkenSteel Corp. Plunged 17% Today” published on May 25, 2016, Fool.com published: “Why TimkenSteel Corporation Stock Fell By 33% in May” on June 08, 2016. More interesting news about Timkensteel Corp (NYSE:TMST) were released by: Quotes.Wsj.com and their article: “TimkenSteel Corp. TMST (US: NYSE)” published on July 01, 2014 as well as Fool.com‘s news article titled: “TimkenSteel Corp. Surges on Earnings” with publication date: January 29, 2016.

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