Titan International Inc (NYSE:TWI) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 2,050,600 shares, a growth of 10.5% from the June 30th total of 1,855,300 shares. Approximately 3.6% of the shares of the company are sold short. Based on an average daily trading volume, of 425,300 shares, the short-interest ratio is currently 4.8 days.
In related news, Director Maurice M. Taylor, Jr. bought 139,214 shares of the company’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $3.04 per share, with a total value of $423,210.56. Following the completion of the transaction, the director now directly owns 619,477 shares of the company’s stock, valued at $1,883,210.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maurice M. Taylor, Jr. bought 18,570 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $2.97 per share, for a total transaction of $55,152.90. Following the completion of the transaction, the director now directly owns 702,889 shares of the company’s stock, valued at $2,087,580.33. The disclosure for this purchase can be found here. Insiders acquired 171,589 shares of company stock worth $520,055 over the last ninety days. 17.80% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of TWI. Quantamental Technologies LLC acquired a new position in Titan International during the second quarter worth about $30,000. Strs Ohio acquired a new position in Titan International during the first quarter worth about $39,000. Commonwealth Equity Services LLC acquired a new position in Titan International during the second quarter worth about $59,000. Spears Abacus Advisors LLC acquired a new position in Titan International during the second quarter worth about $62,000. Finally, BNP Paribas Arbitrage SA grew its holdings in Titan International by 337.4% during the first quarter. BNP Paribas Arbitrage SA now owns 11,087 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 8,552 shares during the period. 84.94% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on TWI shares. TheStreet lowered Titan International from a “c-” rating to a “d+” rating in a research report on Friday, August 2nd. Zacks Investment Research lowered Titan International from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Sidoti set a $8.00 target price on Titan International and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, ValuEngine raised Titan International from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd.
Shares of TWI traded down $0.12 during trading hours on Thursday, reaching $2.81. 2,687 shares of the company’s stock traded hands, compared to its average volume of 387,658. The company has a market cap of $186.52 million, a price-to-earnings ratio of 10.63 and a beta of 2.04. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.00 and a quick ratio of 1.02. Titan International has a twelve month low of $2.72 and a twelve month high of $8.40. The stock has a fifty day simple moving average of $3.93.
Titan International (NYSE:TWI) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). The business had revenue of $390.60 million for the quarter, compared to analyst estimates of $440.38 million. Titan International had a negative net margin of 1.31% and a negative return on equity of 5.32%. Titan International’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the business posted $0.02 earnings per share. On average, research analysts forecast that Titan International will post -0.22 earnings per share for the current fiscal year.
Titan International Company Profile
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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