Titan International (NYSE:TWI) Hits New 52-Week High – Here’s What Happened

Titan International, Inc. (NYSE:TWI)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $10.86 and last traded at $10.83, with a volume of 685745 shares. The stock had previously closed at $10.47.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Titan International from a “sell” rating to a “hold” rating in a research report on Thursday, May 8th. Noble Financial initiated coverage on Titan International in a research note on Wednesday, June 4th. They set an “outperform” rating and a $11.00 price target for the company. Finally, Cantor Fitzgerald started coverage on Titan International in a research note on Thursday, March 20th. They issued an “overweight” rating and a $11.00 target price for the company.

Titan International Stock Performance

The stock has a market cap of $689.87 million, a P/E ratio of -51.57 and a beta of 2.03. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 1.06. The business has a 50 day moving average price of $8.07 and a two-hundred day moving average price of $7.91.

Titan International (NYSE:TWI) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). Titan International had a negative return on equity of 0.05% and a negative net margin of 0.83%. The business had revenue of $490.71 million during the quarter, compared to analysts’ expectations of $466.86 million. On average, sell-side analysts forecast that Titan International, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at Titan International

In other Titan International news, Director Richard M. Cashin, Jr. sold 212,398 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $10.34, for a total value of $2,196,195.32. Following the completion of the transaction, the director directly owned 176,461 shares in the company, valued at approximately $1,824,606.74. The trade was a 54.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Anthony Eheli sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $9.24, for a total transaction of $231,000.00. Following the transaction, the chief accounting officer owned 45,276 shares of the company’s stock, valued at approximately $418,350.24. This trade represents a 35.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 301,348 shares of company stock worth $3,086,520. 25.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Titan International

Several hedge funds have recently modified their holdings of TWI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Titan International by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,628 shares of the industrial products company’s stock worth $194,000 after buying an additional 1,216 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Titan International by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 232,819 shares of the industrial products company’s stock worth $1,581,000 after purchasing an additional 1,464 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Titan International by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 108,736 shares of the industrial products company’s stock worth $912,000 after purchasing an additional 1,628 shares during the period. Hsbc Holdings PLC increased its holdings in Titan International by 25.4% in the 1st quarter. Hsbc Holdings PLC now owns 14,678 shares of the industrial products company’s stock worth $124,000 after buying an additional 2,969 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in Titan International by 14.1% during the 4th quarter. MetLife Investment Management LLC now owns 26,763 shares of the industrial products company’s stock valued at $182,000 after acquiring an additional 3,310 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.