Titan International (NYSE:TWI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Titan International (NYSE:TWI) from a sell rating to a hold rating in a research note published on Sunday morning.

TWI has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Titan International in a research report on Wednesday, April 22nd. DA Davidson set a $13.00 price target on Titan International in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.00.

Titan International Stock Down 0.2%

TWI stock opened at $7.89 on Friday. Titan International has a twelve month low of $6.43 and a twelve month high of $11.70. The company has a quick ratio of 1.22, a current ratio of 2.19 and a debt-to-equity ratio of 1.15. The stock has a market cap of $507.56 million, a P/E ratio of -5.76 and a beta of 1.50. The business’s 50-day moving average price is $8.01 and its 200-day moving average price is $8.42.

Titan International (NYSE:TWI) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.39). Titan International had a negative net margin of 4.72% and a negative return on equity of 3.00%. The company had revenue of $505.07 million for the quarter, compared to analysts’ expectations of $497.23 million. On average, equities research analysts forecast that Titan International will post -0.09 EPS for the current year.

Insider Buying and Selling at Titan International

In other news, major shareholder Aipct Holdings Llc sold 3,041,288 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $8.95, for a total transaction of $27,219,527.60. Following the completion of the transaction, the insider owned 8,880,478 shares in the company, valued at $79,480,278.10. This trade represents a 25.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TWI. Quarry LP purchased a new stake in shares of Titan International during the 3rd quarter worth approximately $27,000. Federated Hermes Inc. purchased a new stake in shares of Titan International during the 3rd quarter worth approximately $31,000. Russell Investments Group Ltd. raised its holdings in shares of Titan International by 22,000.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,199 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 4,180 shares in the last quarter. Strs Ohio purchased a new stake in shares of Titan International during the 3rd quarter worth approximately $36,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Titan International during the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Titan International Company Profile

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.