Titan International (TWI) Rating Lowered to Sell at Zacks Investment Research

Titan International (NYSE:TWI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Titan International, Inc. is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. The company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. “

Several other equities research analysts also recently weighed in on the stock. Jefferies Group reissued a “hold” rating and issued a $12.00 target price on shares of Titan International in a research note on Sunday, November 5th. ValuEngine raised shares of Titan International from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, TheStreet raised shares of Titan International from a “d+” rating to a “c-” rating in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.00.

Shares of Titan International (TWI) traded down $0.13 on Tuesday, hitting $11.57. 68,843 shares of the stock traded hands, compared to its average volume of 260,608. Titan International has a 1-year low of $7.97 and a 1-year high of $14.31. The stock has a market capitalization of $714.77, a P/E ratio of -13.90 and a beta of 1.73. The company has a current ratio of 2.22, a quick ratio of 1.28 and a debt-to-equity ratio of 1.17.

In related news, CFO James M. Froisland purchased 5,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were purchased at an average cost of $11.65 per share, for a total transaction of $58,250.00. Following the completion of the acquisition, the chief financial officer now owns 5,000 shares in the company, valued at approximately $58,250. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul G. Reitz sold 22,000 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $10.82, for a total transaction of $238,040.00. The disclosure for this sale can be found here. Corporate insiders own 17.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of TWI. Piedmont Investment Advisors LLC bought a new position in shares of Titan International in the second quarter worth about $125,000. Oppenheimer & Co. Inc. bought a new position in shares of Titan International in the fourth quarter worth about $135,000. Crossmark Global Holdings Inc. bought a new position in shares of Titan International in the fourth quarter worth about $216,000. Teacher Retirement System of Texas bought a new position in shares of Titan International in the fourth quarter worth about $223,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Titan International by 40.4% in the third quarter. BNP Paribas Arbitrage SA now owns 27,304 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 7,862 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

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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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