Zacks Investment Research upgraded shares of Titan International (NYSE:TWI) from a hold rating to a strong-buy rating in a report released on Tuesday morning. They currently have $14.00 price target on the industrial products company’s stock.
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. “
Several other equities analysts have also recently issued reports on TWI. William Blair reaffirmed an outperform rating on shares of Titan International in a research note on Friday, February 23rd. ValuEngine cut shares of Titan International from a hold rating to a sell rating in a research note on Monday, April 23rd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $13.00.
Shares of Titan International opened at $11.58 on Tuesday, according to MarketBeat.com. The company has a current ratio of 2.06, a quick ratio of 1.17 and a debt-to-equity ratio of 1.23.
Titan International (NYSE:TWI) last announced its quarterly earnings data on Friday, May 4th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.19. The company had revenue of $425.38 million for the quarter, compared to analysts’ expectations of $407.27 million. Titan International had a negative net margin of 2.31% and a positive return on equity of 1.24%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) EPS. sell-side analysts forecast that Titan International will post 0.6 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 29th were paid a $0.005 dividend. The ex-dividend date was Wednesday, March 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.17%. Titan International’s dividend payout ratio is currently -4.08%.
Institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. purchased a new position in shares of Titan International in the fourth quarter worth approximately $135,000. Crossmark Global Holdings Inc. purchased a new position in shares of Titan International in the fourth quarter worth approximately $216,000. Teacher Retirement System of Texas purchased a new position in shares of Titan International in the fourth quarter worth approximately $223,000. MetLife Investment Advisors LLC purchased a new position in shares of Titan International in the fourth quarter worth approximately $292,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Titan International in the first quarter worth approximately $344,000. 86.11% of the stock is currently owned by institutional investors and hedge funds.
About Titan International
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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