Titan International, Inc. (NYSE:TWI) Downgraded by Zacks Investment Research
Titan International, Inc. (NYSE:TWI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Titan International, Inc. is a global manufacturer of off-highway steel wheels and tires in the agricultural, earthmoving/construction and consumer markets. Titan generally manufactures both wheels and tires for these markets and provides the value-added service of assembling the completed wheel-tire system. They offer a broad range of different products that are manufactured in relatively short production runs to meet original equipment manufacturers’ specifications and/or aftermarket customer requirements. “
Several other analysts also recently issued reports on the company. Jefferies Group LLC restated an “underperform” rating and issued a $14.00 price target (up from $11.50) on shares of Titan International in a research note on Friday, April 14th. Sidoti upgraded Titan International from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 18th. TheStreet upgraded Titan International from a “d+” rating to a “c-” rating in a research note on Friday, June 30th. Finally, BidaskClub upgraded Titan International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.00.
Shares of Titan International (NYSE TWI) opened at 10.16 on Wednesday. Titan International has a 52-week low of $8.49 and a 52-week high of $14.23. The stock has a 50 day moving average price of $12.11 and a 200 day moving average price of $11.50. The company’s market capitalization is $606.12 million.
Titan International (NYSE:TWI) last posted its earnings results on Thursday, August 3rd. The industrial products company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by $0.18. The business had revenue of $364.40 million for the quarter, compared to analyst estimates of $352.13 million. Titan International had a negative return on equity of 10.79% and a negative net margin of 3.23%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. On average, analysts predict that Titan International will post ($0.11) earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in TWI. Grace & White Inc. NY increased its stake in Titan International by 193.7% in the fourth quarter. Grace & White Inc. NY now owns 420,770 shares of the industrial products company’s stock worth $1,658,000 after buying an additional 277,528 shares during the last quarter. Principal Financial Group Inc. increased its stake in Titan International by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 286,974 shares of the industrial products company’s stock worth $1,131,000 after buying an additional 12,732 shares during the last quarter. Fishman Jay A Ltd. MI increased its stake in Titan International by 0.4% in the fourth quarter. Fishman Jay A Ltd. MI now owns 2,418,762 shares of the industrial products company’s stock worth $9,530,000 after buying an additional 9,035 shares during the last quarter. Heartland Advisors Inc. bought a new stake in Titan International during the third quarter worth $3,542,000. Finally, Renaissance Technologies LLC increased its stake in Titan International by 8.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,606,000 shares of the industrial products company’s stock worth $29,213,000 after buying an additional 193,200 shares during the last quarter. Hedge funds and other institutional investors own 85.35% of the company’s stock.
About Titan International
Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.
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