Titan International Inc. (TWI) Upgraded to “Buy” by Zacks Investment Research
Titan International Inc. (NYSE:TWI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $11.00 price target on the stock. Zacks Investment Research’s price objective indicates a potential upside of 7.21% from the stock’s current price.
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. “
Separately, Jefferies Group lifted their price target on shares of Titan International from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Titan International has an average rating of “Buy” and an average price target of $9.43.
Titan International (NYSE:TWI) opened at 10.26 on Thursday. Titan International has a 52-week low of $2.50 and a 52-week high of $10.35. The firm has a 50 day moving average of $9.34 and a 200-day moving average of $7.19. The company’s market capitalization is $554.51 million.
Titan International (NYSE:TWI) last posted its earnings results on Thursday, August 4th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The firm earned $330.20 million during the quarter, compared to analyst estimates of $330.92 million. Titan International had a negative net margin of 8.44% and a negative return on equity of 17.71%. The business’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. Equities analysts expect that Titan International will post ($0.48) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.005 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.02 annualized dividend and a yield of 0.19%. Titan International’s dividend payout ratio (DPR) is presently -0.91%.
Large investors have recently made changes to their positions in the company. American International Group Inc. boosted its stake in shares of Titan International by 0.5% in the second quarter. American International Group Inc. now owns 32,846 shares of the company’s stock valued at $204,000 after buying an additional 174 shares during the period. Arizona State Retirement System boosted its stake in shares of Titan International by 1.3% in the second quarter. Arizona State Retirement System now owns 22,731 shares of the company’s stock valued at $141,000 after buying an additional 300 shares during the period. Mount Vernon Associates Inc. MD boosted its stake in shares of Titan International by 2.3% in the second quarter. Mount Vernon Associates Inc. MD now owns 18,100 shares of the company’s stock valued at $112,000 after buying an additional 400 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Titan International by 1.3% in the second quarter. Capstone Asset Management Co. now owns 34,041 shares of the company’s stock valued at $211,000 after buying an additional 430 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Titan International by 0.5% in the second quarter. California State Teachers Retirement System now owns 92,809 shares of the company’s stock valued at $575,000 after buying an additional 473 shares during the period. 77.10% of the stock is currently owned by institutional investors.
Titan International Company Profile
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.
Receive News & Stock Ratings for Titan International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan International Inc. and related stocks with our FREE daily email newsletter.