Titan International Inc. (TWI) Sees Unusually-High Trading Volume
Shares of Titan International Inc. (NYSE:TWI) saw an uptick in trading volume on Thursday . 681,633 shares changed hands during 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.
Several brokerages recently issued reports on TWI. Jefferies Group lifted their target price on Titan International from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Friday. Zacks Investment Research raised Titan International from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $8.68.
The stock’s market capitalization is $455.62 million. The firm’s 50-day moving average is $6.62 and its 200-day moving average is $5.62.
Titan International (NYSE:TWI) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $330.20 million for the quarter, compared to analysts’ expectations of $330.92 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. On average, equities analysts expect that Titan International Inc. will post ($0.54) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.005 per share. The ex-dividend date was Tuesday, June 28th. This represents a $0.02 annualized dividend and a yield of 0.24%.
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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