TimkenSteel (NYSE:TMST) Shares Gap Up to $11.33

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Shares of TimkenSteel Co. (NYSE:TMST) gapped up before the market opened on Thursday . The stock had previously closed at $11.33, but opened at $11.70. TimkenSteel shares last traded at $11.22, with a volume of 758 shares.

A number of analysts have weighed in on the stock. KeyCorp raised their price objective on shares of TimkenSteel from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Monday, March 15th. Zacks Investment Research cut shares of TimkenSteel from a “buy” rating to a “hold” rating in a report on Friday, March 19th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. TimkenSteel currently has an average rating of “Hold” and a consensus target price of $9.50.

The business’s fifty day moving average price is $9.65 and its 200 day moving average price is $5.96. The firm has a market capitalization of $505.27 million, a price-to-earnings ratio of -3.80 and a beta of 1.91. The company has a current ratio of 1.69, a quick ratio of 0.84 and a debt-to-equity ratio of 0.04.

TimkenSteel (NYSE:TMST) last announced its earnings results on Thursday, February 25th. The basic materials company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.21. TimkenSteel had a negative net margin of 15.79% and a negative return on equity of 13.08%. As a group, sell-side analysts forecast that TimkenSteel Co. will post -1.09 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in TimkenSteel in the 3rd quarter valued at $35,000. Squarepoint Ops LLC purchased a new position in TimkenSteel in the 3rd quarter valued at $37,000. ProShare Advisors LLC purchased a new position in TimkenSteel in the 4th quarter valued at $50,000. Citigroup Inc. grew its position in TimkenSteel by 238.3% in the 4th quarter. Citigroup Inc. now owns 11,056 shares of the basic materials company’s stock valued at $52,000 after buying an additional 7,788 shares during the last quarter. Finally, Credit Suisse AG purchased a new position in TimkenSteel in the 4th quarter valued at $70,000. Hedge funds and other institutional investors own 58.85% of the company’s stock.

About TimkenSteel (NYSE:TMST)

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company operates in SBQ Steel Bar, Seamless Mechanical Steel Tubes, and Billets and Value-added Precision Products and Services segments. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services.

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