Titan International (NYSE:TWI) Reaches New 52-Week High – Here’s Why

Titan International, Inc. (NYSE:TWI)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $11.41 and last traded at $11.10, with a volume of 435641 shares trading hands. The stock had previously closed at $11.35.

Analysts Set New Price Targets

Several research analysts recently issued reports on TWI shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Titan International in a research report on Monday, December 29th. Wall Street Zen upgraded Titan International from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.33.

Titan International Price Performance

The company’s 50 day moving average price is $8.76 and its 200 day moving average price is $8.36. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.25 and a current ratio of 2.28. The company has a market cap of $709.85 million, a price-to-earnings ratio of -111.00 and a beta of 1.50.

Institutional Trading of Titan International

Several large investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its holdings in shares of Titan International by 92.2% during the second quarter. Donald Smith & CO. Inc. now owns 1,459,953 shares of the industrial products company’s stock worth $14,994,000 after buying an additional 700,467 shares in the last quarter. EVR Research LP grew its position in Titan International by 27.3% during the 2nd quarter. EVR Research LP now owns 1,400,000 shares of the industrial products company’s stock worth $14,378,000 after acquiring an additional 300,000 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Titan International by 92.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,106 shares of the industrial products company’s stock worth $3,109,000 after acquiring an additional 190,264 shares during the last quarter. Two Sigma Investments LP increased its holdings in Titan International by 69.9% during the 3rd quarter. Two Sigma Investments LP now owns 452,317 shares of the industrial products company’s stock valued at $3,420,000 after purchasing an additional 186,048 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Titan International by 11.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,649,715 shares of the industrial products company’s stock valued at $12,472,000 after purchasing an additional 167,032 shares during the last quarter. 80.39% of the stock is owned by institutional investors.

About Titan International

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.