Titan International Inc. (TWI) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Titan International Inc. (NYSE:TWI) from a hold rating to a buy rating in a research report released on Thursday morning. The brokerage currently has $11.00 price objective on the stock.
According to Zacks, “Titan International, Inc. is a global manufacturer of off-highway steel wheels and tires in the agricultural, earthmoving/construction and consumer markets. Titan generally manufactures both wheels and tires for these markets and provides the value-added service of assembling the completed wheel-tire system. They offer a broad range of different products that are manufactured in relatively short production runs to meet original equipment manufacturers’ specifications and/or aftermarket customer requirements. “
Separately, Jefferies Group raised their target price on shares of Titan International from $6.00 to $8.00 and gave the company a hold rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $9.43.
Shares of Titan International (NYSE:TWI) traded down 4.19% during trading on Thursday, hitting $9.84. 260,751 shares of the company traded hands. The firm has a 50 day moving average price of $9.37 and a 200-day moving average price of $7.21. The stock’s market cap is $531.81 million. Titan International has a one year low of $2.50 and a one year high of $10.36.
Titan International (NYSE:TWI) last released its earnings results on Thursday, August 4th. The company reported ($0.04) EPS 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. Titan International had a negative net margin of 8.44% and a negative return on equity of 17.71%. Titan International’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS. Analysts predict that Titan International will post ($0.48) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.19%. The ex-dividend date is Wednesday, September 28th. Titan International’s dividend payout ratio (DPR) is presently -0.91%.
Large investors have recently modified their holdings of the stock. Hartford Investment Management Co. purchased a new stake in shares of Titan International during the second quarter valued at approximately $105,000. Mount Vernon Associates Inc. MD increased its stake in shares of Titan International by 2.3% in the second quarter. Mount Vernon Associates Inc. MD now owns 18,100 shares of the company’s stock valued at $112,000 after buying an additional 400 shares in the last quarter. Keane Capital Partners LLC purchased a new stake in shares of Titan International during the second quarter valued at approximately $118,000. Arizona State Retirement System increased its stake in shares of Titan International by 6.2% in the first quarter. Arizona State Retirement System now owns 22,431 shares of the company’s stock valued at $121,000 after buying an additional 1,300 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Titan International by 4.5% in the second quarter. HighTower Advisors LLC now owns 20,775 shares of the company’s stock valued at $128,000 after buying an additional 900 shares in the last quarter. Institutional investors own 77.10% of the company’s stock.
About Titan International
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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