Titan International Inc. (TWI) Shares Down 3.1%
Titan International Inc. (NYSE:TWI) shares dropped 3.1% on Wednesday . The stock traded as low as $9.16 and last traded at $9.28, with a volume of 234,630 shares changing hands. The stock had previously closed at $9.58.
TWI has been the subject of several recent research reports. Zacks Investment Research cut Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Jefferies Group lifted their price target on Titan International from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Titan International has a consensus rating of “Hold” and an average price target of $8.68.
The company’s 50 day moving average price is $8.03 and its 200-day moving average price is $6.46. The firm’s market capitalization is $496.68 million.
Titan International (NYSE:TWI) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). During the same period last year, the business posted $0.02 earnings per share. The business had revenue of $330.20 million for the quarter, compared to analysts’ expectations of $330.92 million. The company’s revenue was down 12.2% compared to the same quarter last year.
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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