Jefferies Group Raises Titan International Inc. (TWI) Price Target to $11.50
Separately, Zacks Investment Research raised shares of Titan International from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Thursday, October 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $10.13.
Shares of Titan International (NYSE:TWI) opened at 10.42 on Tuesday. The stock has a 50 day moving average price of $9.48 and a 200 day moving average price of $7.36. The firm’s market capitalization is $563.16 million. Titan International has a 12 month low of $2.50 and a 12 month high of $10.91.
Titan International (NYSE:TWI) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Titan International had a negative net margin of 8.44% and a negative return on equity of 17.71%. The company earned $330.20 million during the quarter, compared to analyst estimates of $330.92 million. During the same quarter in the previous year, the business earned $0.02 EPS. The firm’s revenue was down 12.2% on a year-over-year basis. On average, analysts expect that Titan International will post ($0.48) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Wednesday, September 28th. Titan International’s payout ratio is presently -0.91%.
Institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. raised its position in shares of Titan International by 4.8% in the first quarter. Prudential Financial Inc. now owns 103,625 shares of the company’s stock worth $558,000 after buying an additional 4,700 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Titan International by 1.4% in the first quarter. Geode Capital Management LLC now owns 307,208 shares of the company’s stock worth $1,652,000 after buying an additional 4,125 shares during the last quarter. Harvest Capital Strategies LLC raised its position in shares of Titan International by 240.4% in the first quarter. Harvest Capital Strategies LLC now owns 1,000,000 shares of the company’s stock worth $5,380,000 after buying an additional 706,224 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new position in shares of Titan International during the first quarter worth $181,000. Finally, Clear Harbor Asset Management LLC raised its position in shares of Titan International by 3.6% in the first quarter. Clear Harbor Asset Management LLC now owns 148,555 shares of the company’s stock worth $799,000 after buying an additional 5,100 shares during the last quarter. 77.10% of the stock is owned by hedge funds and other institutional investors.
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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