Shares of Titan International Inc. (NYSE:TWI) hit a new 52-week high on Wednesday after Jefferies Group raised their price target on the stock from $8.00 to $11.50. Jefferies Group currently has a hold rating on the stock. Titan International traded as high as $10.49 and last traded at $10.42, with a volume of 164,669 shares changing hands. The stock had previously closed at $10.32.
Separately, Zacks Investment Research upgraded Titan International from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday, October 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Titan International has an average rating of “Buy” and a consensus price target of $10.13.
Institutional investors have recently modified their holdings of the company. Hartford Investment Management Co. bought a new position in shares of Titan International during the second quarter worth about $105,000. Mount Vernon Associates Inc. MD boosted its position in shares of Titan International by 2.3% in the second quarter. Mount Vernon Associates Inc. MD now owns 18,100 shares of the company’s stock worth $112,000 after buying an additional 400 shares during the period. Keane Capital Partners LLC bought a new position in shares of Titan International during the second quarter worth about $118,000. HighTower Advisors LLC boosted its position in shares of Titan International by 4.5% in the second quarter. HighTower Advisors LLC now owns 20,775 shares of the company’s stock worth $128,000 after buying an additional 900 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Titan International by 6.2% in the second quarter. Thrivent Financial for Lutherans now owns 21,100 shares of the company’s stock worth $131,000 after buying an additional 1,240 shares during the period. Hedge funds and other institutional investors own 77.10% of the company’s stock.
The company’s market cap is $563.16 million. The stock has a 50-day moving average price of $9.45 and a 200 day moving average price of $7.34.
Titan International (NYSE:TWI) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Titan International had a negative return on equity of 17.71% and a negative net margin of 8.44%. The business earned $330.20 million during the quarter, compared to the consensus estimate of $330.92 million. During the same period in the prior year, the company earned $0.02 EPS. Titan International’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, equities analysts expect that Titan International Inc. will post ($0.48) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.005 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.19%. Titan International’s dividend payout ratio is currently -0.91%.
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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