Titan International Inc. (TWI) Trading Up 5.6%
Titan International Inc. (NYSE:TWI) shares were up 5.6% during mid-day trading on Friday . The company traded as high as $6.45 and last traded at $6.44, with a volume of 246,096 shares traded. The stock had previously closed at $6.10.
Separately, Zacks Investment Research raised shares of Titan International from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a research report on Wednesday, April 27th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $8.73.
The company’s market capitalization is $347.66 million. The company has a 50 day moving average price of $6.44 and a 200-day moving average price of $5.19.
Titan International (NYSE:TWI) last posted its earnings results on Thursday, May 5th. The company reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.09. The business had revenue of $321.80 million for the quarter, compared to the consensus estimate of $354.11 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Titan International’s revenue was down 20.0% compared to the same quarter last year. On average, equities analysts anticipate that Titan International Inc. will post ($0.55) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a $0.005 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $0.02 dividend on an annualized basis and a yield of 0.31%.
Several hedge funds have modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Titan International by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 286,974 shares of the company’s stock valued at $1,131,000 after buying an additional 12,732 shares in the last quarter. Fishman Jay A Ltd. MI boosted its stake in shares of Titan International by 0.4% in the fourth quarter. Fishman Jay A Ltd. MI now owns 2,418,762 shares of the company’s stock valued at $9,530,000 after buying an additional 9,035 shares in the last quarter. Pekin Singer Strauss Asset Management IL boosted its stake in shares of Titan International by 96.4% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 2,045,481 shares of the company’s stock valued at $8,059,000 after buying an additional 1,003,785 shares in the last quarter. Finally, South Dakota Investment Council boosted its stake in shares of Titan International by 144.4% in the fourth quarter. South Dakota Investment Council now owns 436,900 shares of the company’s stock valued at $1,721,000 after buying an additional 258,100 shares in the last 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.