Zacks Investment Research upgraded shares of Titan International (NYSE:TWI) from a sell rating to a hold rating in a report released on Friday.
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. “
TWI has been the topic of several other research reports. Jefferies Group reaffirmed a hold rating and issued a $10.50 target price on shares of Titan International in a report on Friday, October 6th. TheStreet raised shares of Titan International from a d+ rating to a c- rating in a report on Monday, November 6th. Finally, ValuEngine raised shares of Titan International from a sell rating to a hold rating in a report on Thursday, November 2nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Titan International has an average rating of Hold and an average price target of $12.00.
Shares of Titan International (NYSE TWI) traded down $0.36 during trading on Friday, reaching $12.98. 211,351 shares of the company’s stock traded hands, compared to its average volume of 226,640. Titan International has a 52 week low of $7.97 and a 52 week high of $14.31. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.22 and a quick ratio of 1.28. The stock has a market cap of $796.57, a P/E ratio of -15.64 and a beta of 1.73.
Titan International (NYSE:TWI) last issued its earnings results on Thursday, November 2nd. The industrial products company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. The business had revenue of $370.99 million for the quarter, compared to the consensus estimate of $331.30 million. Titan International had a negative net margin of 3.19% and a negative return on equity of 9.22%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. sell-side analysts anticipate that Titan International will post -0.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, December 28th. Titan International’s dividend payout ratio is currently -2.41%.
In related news, CFO James M. Froisland acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were purchased at an average price of $11.65 per share, with a total value of $58,250.00. Following the completion of the acquisition, the chief financial officer now owns 5,000 shares in the company, valued at $58,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul G. Reitz sold 22,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $10.82, for a total transaction of $238,040.00. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new stake in Titan International during the second quarter worth about $125,000. Voya Investment Management LLC boosted its holdings in Titan International by 10.3% during the second quarter. Voya Investment Management LLC now owns 24,230 shares of the industrial products company’s stock worth $291,000 after buying an additional 2,266 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Titan International by 40.4% during the third quarter. BNP Paribas Arbitrage SA now owns 27,304 shares of the industrial products company’s stock worth $277,000 after buying an additional 7,862 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new stake in Titan International during the fourth quarter worth about $365,000. Finally, Thrivent Financial For Lutherans boosted its holdings in Titan International by 7.1% during the second quarter. Thrivent Financial For Lutherans now owns 29,170 shares of the industrial products company’s stock worth $350,000 after buying an additional 1,940 shares in the last quarter. 86.84% of the stock is currently owned by hedge funds and other institutional investors.
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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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