Oppenheimer Lowers Titan International Price Target to $19.00 (TWI)
Equities research analysts at Oppenheimer reduced their price target on shares of Titan International (NYSE:TWI) from $21.00 to $19.00 in a research note issued to investors on Thursday, Analyst Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 16.64% from the stock’s previous close.
A number of other firms have also recently commented on TWI. Analysts at Zacks downgraded shares of Titan International from an “outperform” rating to a “neutral” rating in a research note on Tuesday, March 4th. They now have a $20.30 price target on the stock. Separately, analysts at TheStreet downgraded shares of Titan International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Titan International has an average rating of “Hold” and an average price target of $17.33.
Shares of Titan International (NYSE:TWI) traded down 8.53% during mid-day trading on Thursday, hitting $16.29. The stock had a trading volume of 2,562,882 shares. Titan International has a 52-week low of $14.14 and a 52-week high of $25.15. The stock’s 50-day moving average is $18.27 and its 200-day moving average is $17.13. The company has a market cap of $872.7 million and a price-to-earnings ratio of 28.05. Titan International also was the recipient of a significant growth in short interest in the month of January. As of March 31st, there was short interest totalling 8,715,807 shares, a growth of 48.6% from the March 14th total of 5,865,239 shares. Based on an average trading volume of 482,400 shares, the short-interest ratio is presently 18.1 days. Currently, 17.0% of the company’s stock are sold short.
Titan International (NYSE:TWI) last released its earnings data on Thursday, April 24th. The company reported $0.04 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.36 by $0.32. The company had revenue of $538.90 million for the quarter, compared to the consensus estimate of $600.10 million. During the same quarter last year, the company posted $0.36 earnings per share. Titan International’s revenue was down 6.8% compared to the same quarter last year. Analysts expect that Titan International will post $1.12 EPS for the current fiscal year.
Titan International, Inc (NYSE:TWI) through its subsidiaries, is engaged in the manufacturing of wheels and tires.
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