Titan International Inc. (TWI) PT Raised to $11.50 at Jefferies Group
Titan International Inc. (NYSE:TWI) had its price objective increased by stock analysts at Jefferies Group from $8.00 to $11.50 in a note issued to investors on Tuesday. The firm currently has a “hold” rating on the stock. Jefferies Group’s target price indicates a potential upside of 11.00% from the company’s current price.
Separately, Zacks Investment Research raised shares of Titan International from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $10.13.
Titan International (NYSE:TWI) traded down 0.9643% during midday trading on Tuesday, reaching $10.2601. 272,056 shares of the company were exchanged. The company has a 50-day moving average of $9.41 and a 200 day moving average of $7.30. The firm’s market capitalization is $554.52 million. Titan International has a 52 week low of $2.50 and a 52 week high of $10.44.
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Titan International (NYSE:TWI) last released its earnings results on Thursday, August 4th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). Titan International had a negative net margin of 8.44% and a negative return on equity of 17.71%. The company had revenue of $330.20 million for the quarter, compared to analysts’ expectations of $330.92 million. During the same quarter last year, the business earned $0.02 EPS. The firm’s revenue was down 12.2% compared to the same quarter last year. Equities analysts predict that Titan International will post ($0.48) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Wednesday, September 28th. Titan International’s dividend payout ratio (DPR) is currently -0.91%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Harvest Capital Strategies LLC raised its position in Titan International by 240.4% in the first quarter. Harvest Capital Strategies LLC now owns 1,000,000 shares of the company’s stock worth $5,380,000 after buying an additional 706,224 shares during the period. Cortina Asset Management LLC acquired a new position in Titan International during the second quarter worth $4,036,000. State of New Jersey Common Pension Fund D acquired a new position in Titan International during the second quarter worth $3,844,000. Vanguard Group Inc. raised its position in Titan International by 10.7% in the second quarter. Vanguard Group Inc. now owns 2,584,899 shares of the company’s stock worth $16,027,000 after buying an additional 249,015 shares during the period. Finally, Millrace Asset Group Inc. acquired a new position in Titan International during the second quarter worth $961,000. 77.10% of the stock is owned by hedge funds and other institutional investors.
About Titan International
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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