Titan International’s (TWI) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson reissued their buy rating on shares of Titan International (NYSE:TWI) in a research note released on Friday morning,Benzinga reports. They currently have a $13.00 target price on the industrial products company’s stock.

Several other brokerages have also recently issued reports on TWI. Wall Street Zen raised shares of Titan International from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Titan International in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.00.

Titan International Trading Up 4.4%

NYSE TWI opened at $7.72 on Friday. The firm’s 50-day moving average is $7.73 and its two-hundred day moving average is $8.37. Titan International has a 12 month low of $6.43 and a 12 month high of $11.70. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.19 and a quick ratio of 1.22. The stock has a market capitalization of $496.81 million, a P/E ratio of -5.63 and a beta of 1.45.

Titan International (NYSE:TWI) last posted its earnings results on Thursday, April 30th. The industrial products company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.39). The company had revenue of $505.07 million during the quarter, compared to analyst estimates of $497.23 million. Titan International had a negative net margin of 4.72% and a negative return on equity of 3.00%. On average, sell-side analysts anticipate that Titan International will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On Titan International

Several institutional investors have recently bought and sold shares of TWI. Quarry LP purchased a new position in shares of Titan International in the 3rd quarter worth $27,000. Russell Investments Group Ltd. grew its stake in shares of Titan International by 22,000.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,199 shares of the industrial products company’s stock worth $32,000 after buying an additional 4,180 shares in the last quarter. State of Wyoming grew its stake in shares of Titan International by 45.2% in the 1st quarter. State of Wyoming now owns 4,758 shares of the industrial products company’s stock worth $33,000 after buying an additional 1,482 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Titan International in the 2nd quarter worth $46,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Titan International by 191.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,189 shares of the industrial products company’s stock worth $53,000 after buying an additional 3,410 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

About Titan International

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.