Titan International (NYSE:TWI) Stock Gets Price Target Trim from DA Davidson

Titan International (NYSE:TWI) had its price objective trimmed by DA Davidson from $13.00 to $10.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on TWI. Wall Street Zen cut Titan International from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Titan International in a report on Friday, October 16th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.00.

Titan International Stock Performance

Shares of Titan International stock opened at $4.86 on Monday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.16 and a quick ratio of 1.52. The firm has a fifty day moving average price of $6.85 and a 200 day moving average price of $7.77. Titan International has a 1 year low of $4.58 and a 1 year high of $11.70.

Titan International (NYSE:TWI) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $335.18 million for the quarter, compared to analyst estimates of $448.82 million. Titan International had a negative net margin of 6.76% and a negative return on equity of 2.54%. Equities research analysts anticipate that Titan International will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Titan International

A number of institutional investors have recently added to or reduced their stakes in TWI. BlackRock Inc. acquired a new position in shares of Titan International during the 2nd quarter worth about $35,922,000. Aip LLC purchased a new position in Titan International in the 2nd quarter valued at about $68,468,485. Bank of New York Mellon Corp acquired a new stake in Titan International in the 2nd quarter worth about $1,374,000. Sei Investments Co. boosted its holdings in Titan International by 99.4% in the 1st quarter. Sei Investments Co. now owns 369,535 shares of the industrial products company’s stock worth $2,553,000 after buying an additional 184,176 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in Titan International in the 2nd quarter worth about $4,397,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

About Titan International

Titan International, Inc (NYSE:TWI) designs, manufactures and sells wheels, tires and undercarriage systems for off-highway vehicles and equipment. Its products are used in agricultural, construction, earthmoving, mining and other industrial applications, with offerings that include specialized tires, wheels, wheel assemblies, tracks and related components.

The company serves original equipment manufacturers and replacement, or aftermarket, customers. Its products are used on tractors, combines, planting and harvesting equipment, loaders, graders, haulage vehicles and other heavy-duty machinery.