Titan International Inc. (TWI) Trading Down 8.3%
Titan International Inc. (NYSE:TWI)’s share price traded down 8.3% during trading on Monday . The stock traded as low as $5.98 and last traded at $6.07, with a volume of 541,860 shares traded. The stock had previously closed at $6.62.
Separately, Zacks Investment Research upgraded shares of Titan International from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Titan International presently has an average rating of “Hold” and a consensus target price of $8.73.
The company has a 50-day moving average price of $6.59 and a 200 day moving average price of $5.44. The stock’s market capitalization is $360.07 million.
Titan International (NYSE:TWI) last announced 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. The business earned $321.80 million during the quarter, compared to analysts’ expectations of $354.11 million. During the same period in the previous year, the business earned $0.01 EPS. Titan International’s revenue for the quarter was down 20.0% on a year-over-year basis. Analysts expect that Titan International Inc. will post ($0.56) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.005 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $0.02 dividend on an annualized basis and a yield of 0.31%.
An institutional investor recently raised its position in Titan International stock. South Dakota Investment Council boosted its stake in Titan International Inc. (NYSE:TWI) by 144.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 436,900 shares of the company’s stock after buying an additional 258,100 shares during the period. South Dakota Investment Council owned approximately 0.81% of Titan International worth $1,721,000 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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