Titan International Inc. (TWI) PT Raised to $11.50 at Jefferies Group
Titan International Inc. (NYSE:TWI) had its target price raised by investment analysts at Jefferies Group from $8.00 to $11.50 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “hold” rating on the stock. Jefferies Group’s price objective points to a potential upside of 11.00% from the company’s current price.
Separately, Zacks Investment Research raised shares of Titan International from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $10.13.
Titan International (NYSE:TWI) traded down 0.9643% during midday trading on Tuesday, hitting $10.2601. 272,056 shares of the stock traded hands. The company’s market capitalization is $554.52 million. The stock’s 50-day moving average price is $9.41 and its 200 day moving average price is $7.30. Titan International has a 52 week low of $2.50 and a 52 week high of $10.44.
Titan International (NYSE:TWI) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The company earned $330.20 million during the quarter, compared to analysts’ expectations of $330.92 million. Titan International had a negative net margin of 8.44% and a negative return on equity of 17.71%. Titan International’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 earnings per share. On average, equities research analysts predict that Titan International will post ($0.48) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.005 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.02 dividend on an annualized basis and a yield of 0.19%. Titan International’s dividend payout ratio is presently -0.91%.
A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its position in Titan International by 4.7% in the second quarter. BlackRock Fund Advisors now owns 2,953,421 shares of the company’s stock worth $18,311,000 after buying an additional 133,183 shares in the last quarter. Fishman Jay A Ltd. MI raised its stake in shares of Titan International by 4.5% in the second quarter. Fishman Jay A Ltd. MI now owns 2,718,597 shares of the company’s stock worth $16,855,000 after buying an additional 117,750 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Titan International by 10.7% in the second quarter. Vanguard Group Inc. now owns 2,584,899 shares of the company’s stock worth $16,027,000 after buying an additional 249,015 shares during the last quarter. Pekin Singer Strauss Asset Management IL raised its stake in shares of Titan International by 5.4% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 1,533,905 shares of the company’s stock worth $9,510,000 after buying an additional 79,201 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Titan International by 2.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,188,217 shares of the company’s stock worth $7,367,000 after buying an additional 24,140 shares during the last quarter. 77.10% of the stock is owned by institutional investors and hedge funds.
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.
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