Titan International Inc. (TWI) Sees Large Volume Increase
Shares of Titan International Inc. (NYSE:TWI) saw strong trading volume on Thursday . 681,633 shares traded hands during mid-day trading, an increase of 82% from the previous session’s volume of 374,523 shares.The stock last traded at $7.76 and had previously closed at $6.87.
Separately, Zacks Investment Research raised shares of Titan International from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Titan International has an average rating of “Hold” and a consensus target price of $8.73.
The firm’s 50 day moving average price is $6.56 and its 200-day moving average price is $5.60. The firm’s market cap is $418.92 million.
Titan International (NYSE:TWI) last released its earnings results on Thursday, August 4th. The company reported ($0.04) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The firm had revenue of $330.20 million for the quarter, compared to analyst estimates of $330.92 million. During the same period in the prior year, the firm earned $0.02 EPS. The firm’s revenue was down 12.2% on a year-over-year basis. Equities analysts forecast that Titan International Inc. will post ($0.53) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Tuesday, June 28th.
Titan International, Inc is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment.
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