Notable Mover: Timkensteel Corp Surges to 52-Week High, Is Now Top Performer

Notable Mover: Timkensteel Corp Surges to 52 Week High, Is Now Top Performer

The stock of Timkensteel Corp (NYSE:TMST) hit a new 52-week high and has $15.19 target or 5.00% above today’s $14.47 share price. The 6 months bullish chart indicates low risk for the $660.12 million company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $15.19 price target is reached, the company will be worth $33.01M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 323,708 shares traded hands. Timkensteel Corp (NYSE:TMST) has risen 8.84% since April 20, 2016 and is uptrending. It has outperformed by 4.29% the S&P500.

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. TimkenSteel has been the topic of 8 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating by Cowen & Co given on Monday, September 14. Cowen & Co maintained Timkensteel Corp (NYSE:TMST) on Thursday, August 6 with “Outperform” rating. Cowen & Co maintained Timkensteel Corp (NYSE:TMST) rating on Thursday, November 17. Cowen & Co has “Outperform” rating and $17 price target. Jefferies downgraded the shares of TMST in a report on Wednesday, January 13 to “Hold” rating. KeyBanc Capital Markets initiated Timkensteel Corp (NYSE:TMST) on Monday, August 31 with “Sector Weight” rating. The stock has “Outperform” rating given by Cowen & Co on Thursday, August 11. Jefferies maintained the stock with “Buy” rating in Wednesday, September 16 report. The rating was maintained by Cowen & Co on Wednesday, February 3 with “Market Perform”.

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.”

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: Fool.com and their article: “TimkenSteel Corp. Surges on Earnings” published on January 29, 2016 as well as Quotes.Wsj.com‘s news article titled: “TimkenSteel Corp. TMST (US: NYSE)” with publication date: July 01, 2014.

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.

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