Titan International Inc. (TWI) Shares Up 7.9%
Shares of Titan International Inc. (NYSE:TWI) shot up 7.9% during trading on Tuesday . The stock traded as high as $6.55 and last traded at $6.52, with a volume of 189,535 shares trading hands. The stock had previously closed at $6.04.
Separately, Zacks Investment Research cut shares of Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Titan International has an average rating of “Hold” and an average price target of $8.73.
The company’s 50 day moving average price is $6.60 and its 200-day moving average price is $5.41. The stock’s market capitalization is $346.58 million.
Titan International (NYSE:TWI) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.09. During the same quarter last year, the firm posted $0.01 earnings per share. The company had revenue of $321.80 million for the quarter, compared to the consensus estimate of $354.11 million. The company’s revenue was down 20.0% compared to the same quarter last year. On average, equities analysts expect that Titan International Inc. will post ($0.56) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Tuesday, June 28th.
A hedge fund recently raised its stake in Titan International stock. Pekin Singer Strauss Asset Management IL raised its position in Titan International Inc. (NYSE:TWI) by 96.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,045,481 shares of the company’s stock after buying an additional 1,003,785 shares during the period. Titan International accounts for about 1.8% of Pekin Singer Strauss Asset Management IL’s portfolio, making the stock its 14th largest position. Pekin Singer Strauss Asset Management IL owned approximately 3.80% of Titan International worth $8,059,000 as of its most recent filing with the SEC.
Titan International, Inc together with its subsidiaries manufactures wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates in three segments: agricultural, earthmoving/construction and consumer.
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