Titan International (NYSE:TWI) Stock Price Up 7.6% – What’s Next?

Titan International, Inc. (NYSE:TWI) shares shot up 7.6% during trading on Friday . The company traded as high as $8.18 and last traded at $8.22. 174,014 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 736,548 shares. The stock had previously closed at $7.64.

Wall Street Analysts Forecast Growth

TWI has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Titan International in a research report on Monday, July 20th. Wall Street Zen upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, DA Davidson reissued a “buy” rating and set a $13.00 price objective on shares of Titan International in a report on Friday, June 12th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Titan International has an average rating of “Hold” and a consensus price target of $13.00.

Titan International Stock Performance

The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.15 and a current ratio of 2.11. The company has a market cap of $527.61 million, a PE ratio of -6.76 and a beta of 1.46. The business’s 50-day moving average is $7.35 and its 200 day moving average is $7.78.

Titan International (NYSE:TWI) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.15. Titan International had a negative net margin of 4.11% and a negative return on equity of 1.56%. The business had revenue of $484.77 million during the quarter, compared to analyst estimates of $480.06 million. On average, equities research analysts predict that Titan International, Inc. will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Titan International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in Titan International in the third quarter valued at approximately $27,000. Russell Investments Group Ltd. boosted its stake in shares of Titan International by 22,000.0% during the third quarter. Russell Investments Group Ltd. now owns 4,199 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 4,180 shares during the period. Quantbot Technologies LP bought a new position in shares of Titan International in the second quarter worth approximately $46,000. State of Wyoming increased its stake in shares of Titan International by 45.2% in the first quarter. State of Wyoming now owns 4,758 shares of the industrial products company’s stock worth $33,000 after buying an additional 1,482 shares during the period. Finally, Legal & General Group Plc bought a new stake in Titan International during the 2nd quarter valued at $40,000. 80.39% of the stock is currently owned by institutional investors.

About Titan International

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.