Titan International (NYSE:TWI) Shares Gap Down Following Weak Earnings

Shares of Titan International, Inc. (NYSE:TWI) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $11.17, but opened at $10.07. Titan International shares last traded at $10.06, with a volume of 258,258 shares changing hands.

The industrial products company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.15). The firm had revenue of $482.21 million during the quarter, compared to analysts’ expectations of $537.32 million. Titan International had a net margin of 4.32% and a return on equity of 22.57%. During the same quarter in the previous year, the business earned $0.53 EPS.

Analyst Ratings Changes

Separately, TheStreet downgraded shares of Titan International from a “b-” rating to a “c” rating in a research report on Thursday, February 29th.

Insiders Place Their Bets

In other Titan International news, CAO Anthony Eheli sold 2,500 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $12.42, for a total value of $31,050.00. Following the sale, the chief accounting officer now directly owns 52,918 shares of the company’s stock, valued at approximately $657,241.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 18.30% of the stock is currently owned by company insiders.

Institutional Trading of Titan International

A number of institutional investors have recently modified their holdings of the company. Byrne Asset Management LLC bought a new position in Titan International during the 1st quarter worth $25,000. Tradewinds Capital Management LLC acquired a new stake in Titan International in the 1st quarter valued at approximately $100,000. SG Americas Securities LLC bought a new stake in Titan International during the 3rd quarter valued at $139,000. Boulder Hill Capital Management LP bought a new stake in Titan International during the 4th quarter valued at $161,000. Finally, Quantbot Technologies LP increased its holdings in shares of Titan International by 20.1% during the third quarter. Quantbot Technologies LP now owns 11,564 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 1,935 shares during the period. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Titan International Stock Down 4.8 %

The stock’s 50-day moving average is $12.36 and its 200-day moving average is $13.25. The stock has a market cap of $774.61 million, a P/E ratio of 7.76 and a beta of 2.09. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.88.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.