Zacks Investment Research upgraded shares of Titan International Inc. (NYSE:TWI) from a hold rating to a buy rating in a report issued on Thursday. Zacks Investment Research currently has $11.00 price target 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 upped their price objective on shares of Titan International from $6.00 to $8.00 and gave the company a hold rating in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $10.13.
Shares of Titan International (NYSE:TWI) opened at 10.32 on Thursday. The firm’s market capitalization is $557.75 million. Titan International has a 1-year low of $2.50 and a 1-year high of $10.44. The stock has a 50 day moving average of $9.44 and a 200-day moving average of $7.32.
Titan International (NYSE:TWI) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.04) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The business had revenue of $330.20 million for the quarter, compared to the consensus estimate of $330.92 million. Titan International had a negative net margin of 8.44% and a negative return on equity of 17.71%. The company’s revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. On average, equities analysts expect that Titan International will post ($0.48) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Wednesday, September 28th. Titan International’s dividend payout ratio is presently -0.91%.
Several large investors have recently made changes to their positions in TWI. Cortina Asset Management LLC bought a new stake in shares of Titan International during the second quarter valued at $4,036,000. California Public Employees Retirement System boosted its position in Titan International by 4.0% in the second quarter. California Public Employees Retirement System now owns 445,200 shares of the company’s stock valued at $2,760,000 after buying an additional 17,000 shares during the period. Mount Vernon Associates Inc. MD boosted its position in 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 during the period. Clear Harbor Asset Management LLC boosted its position in Titan International by 3.6% in the first quarter. Clear Harbor Asset Management LLC now owns 148,555 shares of the company’s stock valued at $799,000 after buying an additional 5,100 shares during the period. Finally, Arizona State Retirement System boosted its position in 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 during the period. Hedge funds and other institutional investors own 77.10% of the company’s stock.
Titan International Company Profile
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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