Zacks Upgrades Titan International to “Neutral” (TWI)
Titan International (NYSE:TWI) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Monday. The firm currently has a $17.50 target price on the stock. Zacks‘s price target points to a potential upside of 2.34% from the company’s current price.
Shares of Titan International (NYSE:TWI) traded down 0.53% on Monday, hitting $17.0101. The stock had a trading volume of 134,672 shares. Titan International has a 52 week low of $14.14 and a 52 week high of $19.89. The stock’s 50-day moving average is $16.21 and its 200-day moving average is $17.36. The company has a market cap of $911.5 million and a price-to-earnings ratio of 51.04.
Titan International (NYSE:TWI) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. On average, analysts predict that Titan International will post $0.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, June 26th.
Separately, analysts at Oppenheimer cut their price target on shares of Titan International from $21.00 to $19.00 in a research note on Thursday, April 24th. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Titan International has a consensus rating of “Hold” and a consensus price target of $16.93.
Titan International, Inc (NYSE:TWI) through its subsidiaries, is engaged in the manufacturing of wheels and tires.
To view Zacks’ full report, visit Zacks’ official website.
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