Titan International Inc. (TWI) Reaches New 1-Year High After Analyst Upgrade
Titan International Inc. (NYSE:TWI) hit a new 52-week high on Wednesday after Jefferies Group raised their price target on the stock from $8.00 to $11.50. Jefferies Group currently has a hold rating on the stock. Titan International traded as high as $10.49 and last traded at $10.42, with a volume of 164,669 shares changing hands. The stock had previously closed at $10.32.
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 investment 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. The stock presently has a consensus rating of “Buy” and an average price target of $10.13.
Several institutional investors have recently modified their holdings of TWI. Hartford Investment Management Co. acquired a new position in shares of Titan International during the second quarter worth $105,000. Mount Vernon Associates Inc. MD increased its position 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 worth $112,000 after buying an additional 400 shares in the last quarter. Keane Capital Partners LLC acquired a new position in shares of Titan International during the second quarter worth $118,000. HighTower Advisors LLC increased its position in shares of Titan International by 4.5% in the second quarter. HighTower Advisors LLC now owns 20,775 shares of the company’s stock worth $128,000 after buying an additional 900 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Titan International by 6.2% in the second quarter. Thrivent Financial for Lutherans now owns 21,100 shares of the company’s stock worth $131,000 after buying an additional 1,240 shares in the last quarter. Institutional investors own 77.10% of the company’s stock.
The firm’s 50-day moving average price is $9.45 and its 200 day moving average price is $7.34. The firm’s market cap is $563.16 million.
Titan International (NYSE:TWI) last announced its earnings results on Thursday, August 4th. The company reported ($0.04) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.04). Titan International had a negative return on equity of 17.71% and a negative net margin of 8.44%. The company earned $330.20 million during the quarter, compared to analyst estimates of $330.92 million. During the same period last year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. Analysts forecast that Titan International Inc. will post ($0.48) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders 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 dividend yield of 0.19%. Titan International’s dividend payout ratio (DPR) is presently -0.91%.
About Titan International
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.