Titan International (NYSE:TWI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage presently has a $3.75 target price on the industrial products company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 24.58% from the company’s current price.
According to Zacks, “Titan International, Inc. is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. The company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. “
Separately, William Blair reiterated a “market perform” rating on shares of Titan International in a research report on Thursday, August 6th.
NYSE TWI traded down $0.17 on Tuesday, reaching $3.01. The stock had a trading volume of 7,279 shares, compared to its average volume of 581,884. The company has a debt-to-equity ratio of 2.62, a current ratio of 2.15 and a quick ratio of 1.16. The firm has a fifty day moving average of $2.49 and a two-hundred day moving average of $1.71. Titan International has a 1-year low of $1.05 and a 1-year high of $4.01. The company has a market cap of $193.74 million, a P/E ratio of -2.43 and a beta of 2.18.
Titan International (NYSE:TWI) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.19. Titan International had a negative return on equity of 29.60% and a negative net margin of 5.88%. The firm had revenue of $286.13 million for the quarter, compared to analyst estimates of $275.47 million. Research analysts predict that Titan International will post -0.6 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada bought a new position in shares of Titan International during the first quarter worth about $30,000. Cordasco Financial Network bought a new stake in Titan International in the second quarter worth approximately $28,000. First Heartland Consultants Inc. bought a new stake in Titan International in the second quarter worth approximately $30,000. GSA Capital Partners LLP bought a new stake in Titan International in the first quarter worth approximately $34,000. Finally, AQR Capital Management LLC bought a new stake in Titan International in the second quarter worth approximately $37,000. Institutional investors own 68.91% of the company’s stock.
Titan International Company Profile
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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