Jefferies Group LLC Reiterates Hold Rating for Titan International, Inc. (TWI)

Titan International, Inc. (NYSE:TWI)‘s stock had its “hold” rating reiterated by investment analysts at Jefferies Group LLC in a note issued to investors on Friday. They presently have a $10.50 price objective on the industrial products company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 6.06% from the stock’s previous close. Jefferies Group also issued estimates for Titan International’s Q3 2017 earnings at ($0.13) EPS, Q4 2017 earnings at ($0.07) EPS, FY2018 earnings at $0.10 EPS and FY2019 earnings at $0.40 EPS.

Other equities analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Titan International from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. TheStreet upgraded shares of Titan International from a “d+” rating to a “c-” rating in a report on Friday, June 30th. ValuEngine cut shares of Titan International from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Finally, Zacks Investment Research cut shares of Titan International from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.75.

Shares of Titan International (NYSE:TWI) opened at 9.90 on Friday. The stock’s 50 day moving average price is $9.35 and its 200 day moving average price is $10.53. Titan International has a 12-month low of $7.97 and a 12-month high of $14.23. The firm’s market cap is $591.03 million.

Titan International (NYSE:TWI) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.18). Titan International had a negative return on equity of 10.79% and a negative net margin of 3.23%. The firm had revenue of $364.40 million for the quarter, compared to analysts’ expectations of $352.13 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts predict that Titan International will post ($0.53) EPS for the current fiscal year.

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Several institutional investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC purchased a new position in shares of Titan International during the 2nd quarter valued at $125,000. California State Teachers Retirement System grew its holdings in shares of Titan International by 1.3% during the 2nd quarter. California State Teachers Retirement System now owns 88,309 shares of the industrial products company’s stock valued at $1,061,000 after acquiring an additional 1,100 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Titan International by 16.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,153 shares of the industrial products company’s stock valued at $482,000 after acquiring an additional 5,585 shares in the last quarter. State Street Corp grew its holdings in shares of Titan International by 3.7% during the 2nd quarter. State Street Corp now owns 1,058,638 shares of the industrial products company’s stock valued at $12,714,000 after acquiring an additional 37,423 shares in the last quarter. Finally, Numeric Investors LLC grew its holdings in shares of Titan International by 33.6% during the 2nd quarter. Numeric Investors LLC now owns 90,600 shares of the industrial products company’s stock valued at $1,088,000 after acquiring an additional 22,800 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

About Titan International

Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.

Analyst Recommendations for Titan International (NYSE:TWI)

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