Titan International (NYSE:TWI) Shares Gap Down on Disappointing Earnings

Titan International, Inc. (NYSE:TWI)’s share price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $11.17, but opened at $10.07. Titan International shares last traded at $10.06, with a volume of 258,258 shares trading hands.

The industrial products company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.15). Titan International had a return on equity of 22.57% and a net margin of 4.32%. The business had revenue of $482.21 million for the quarter, compared to analysts’ expectations of $537.32 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share.

Wall Street Analyst Weigh In

Separately, TheStreet downgraded shares of Titan International from a “b-” rating to a “c” rating in a research note on Thursday, February 29th.

Insider Activity

In other news, CAO Anthony Eheli sold 2,500 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $12.42, for a total value of $31,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 52,918 shares in the company, valued at $657,241.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TWI. Byrne Asset Management LLC bought a new position in Titan International during the 1st quarter valued at $25,000. Tradewinds Capital Management LLC bought a new position in Titan International during the 1st quarter valued at $100,000. SG Americas Securities LLC bought a new position in Titan International during the 3rd quarter valued at $139,000. Quantbot Technologies LP boosted its stake in Titan International by 20.1% during the 3rd quarter. Quantbot Technologies LP now owns 11,564 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 1,935 shares during the last quarter. Finally, Boulder Hill Capital Management LP bought a new position in Titan International during the 4th quarter valued at $161,000. 80.39% of the stock is currently owned by institutional investors.

Titan International Stock Down 6.4 %

The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $761.49 million, a P/E ratio of 8.36 and a beta of 2.09. The stock’s 50 day simple moving average is $12.29 and its 200 day simple moving average is $13.23.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.