Titan International Inc. (TWI) Shares Up 7.9%
Shares of Titan International Inc. (NYSE:TWI) shot up 7.9% during mid-day trading on Tuesday . The company traded as high as $6.55 and last traded at $6.52, with a volume of 189,535 shares changing hands. The stock had previously closed at $6.04.
Separately, Zacks Investment Research cut Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. 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 given a strong buy rating to the company’s stock. Titan International has an average rating of “Hold” and an average price target of $8.73.
The firm has a 50 day moving average price of $6.57 and a 200-day moving average price of $5.45. The company’s market capitalization is $356.83 million.
Titan International (NYSE:TWI) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by $0.09. During the same quarter in the prior year, the firm earned $0.01 EPS. The business had revenue of $321.80 million for the quarter, compared to analysts’ expectations of $354.11 million. The company’s revenue was down 20.0% on a year-over-year basis. Equities analysts predict that Titan International Inc. will post ($0.56) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Tuesday, June 28th.
An institutional investor recently raised its position in Titan International stock. South Dakota Investment Council boosted its stake in shares of Titan International Inc. (NYSE:TWI) by 144.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 436,900 shares of the company’s stock after buying an additional 258,100 shares during the period. South Dakota Investment Council owned about 0.81% of Titan International worth $1,721,000 at the end of the most recent quarter.
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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