Titan International, Inc. (NYSE:TWI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Titan International, Inc. is a global manufacturer of off-highway steel wheels and tires in the agricultural, earthmoving/construction and consumer markets. Titan generally manufactures both wheels and tires for these markets and provides the value-added service of assembling the completed wheel-tire system. They offer a broad range of different products that are manufactured in relatively short production runs to meet original equipment manufacturers’ specifications and/or aftermarket customer requirements. “
Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Titan International from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. TheStreet raised shares of Titan International from a “d+” rating to a “c-” rating in a report on Monday, November 6th. Jefferies Group LLC reissued a “hold” rating and issued a $12.00 price target on shares of Titan International in a report on Sunday, November 5th. Finally, ValuEngine downgraded shares of Titan International from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Titan International has a consensus rating of “Buy” and an average price target of $13.50.
Titan International (TWI) opened at $11.03 on Thursday. The company has a quick ratio of 1.28, a current ratio of 2.22 and a debt-to-equity ratio of 1.17. Titan International has a 12-month low of $7.97 and a 12-month high of $14.23.
Titan International (NYSE:TWI) last announced its earnings results on Thursday, November 2nd. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.03. The firm had revenue of $370.99 million during the quarter, compared to analyst estimates of $331.30 million. Titan International had a negative net margin of 3.19% and a negative return on equity of 9.22%. Titan International’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.15) EPS. sell-side analysts forecast that Titan International will post -0.62 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Titan International by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,922,553 shares of the industrial products company’s stock valued at $47,110,000 after buying an additional 208,779 shares in the last quarter. Vanguard Group Inc. lifted its stake in Titan International by 9.5% during the second quarter. Vanguard Group Inc. now owns 3,349,303 shares of the industrial products company’s stock valued at $40,224,000 after buying an additional 290,653 shares in the last quarter. Franklin Resources Inc. lifted its stake in Titan International by 70.3% during the second quarter. Franklin Resources Inc. now owns 3,157,500 shares of the industrial products company’s stock valued at $37,922,000 after buying an additional 1,303,200 shares in the last quarter. Fishman Jay A Ltd. MI lifted its stake in Titan International by 2.5% during the third quarter. Fishman Jay A Ltd. MI now owns 2,903,062 shares of the industrial products company’s stock valued at $29,466,000 after buying an additional 70,030 shares in the last quarter. Finally, State Street Corp lifted its stake in Titan International by 3.7% during the second quarter. State Street Corp now owns 1,058,638 shares of the industrial products company’s stock valued at $12,714,000 after buying an additional 37,423 shares in the last quarter. 86.74% of the stock is owned by institutional investors.
Titan International Company Profile
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.
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