Zacks Investment Research Upgrades Titan International Inc. (TWI) to “Buy”
Titan International Inc. (NYSE:TWI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $12.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 4.99% 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 restated a “hold” rating and set a $11.50 target price on shares of Titan International in a research note on Monday.
Shares of Titan International (NYSE:TWI) opened at 11.43 on Wednesday. The firm’s 50-day moving average price is $10.07 and its 200 day moving average price is $8.02. The stock’s market capitalization is $617.75 million. Titan International has a 1-year low of $2.50 and a 1-year high of $11.50.
Titan International (NYSE:TWI) last announced its earnings results on Thursday, November 3rd. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.13) by $0.05. The business had revenue of $306.20 million for the quarter, compared to analyst estimates of $301.25 million. Titan International had a negative net margin of 6.86% and a negative return on equity of 12.49%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.13) earnings per share. Analysts expect that Titan International will post ($0.45) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a $0.005 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.02 dividend on an annualized basis and a yield of 0.17%. Titan International’s dividend payout ratio (DPR) is -1.23%.
A number of institutional investors have recently bought and sold shares of the company. Livingston Group Asset Management CO operating as Southport Capital Management increased its position in Titan International by 0.6% in the third quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 11,571 shares of the company’s stock worth $117,000 after buying an additional 71 shares during the period. KCG Holdings Inc. purchased a new position in Titan International during the third quarter worth approximately $135,000. Acrospire Investment Management LLC increased its position in Titan International by 820.8% in the third quarter. Acrospire Investment Management LLC now owns 15,930 shares of the company’s stock worth $161,000 after buying an additional 14,200 shares during the period. Wells Fargo & Company MN increased its position in Titan International by 33.3% in the third quarter. Wells Fargo & Company MN now owns 16,935 shares of the company’s stock worth $171,000 after buying an additional 4,227 shares during the period. Finally, Hartford Investment Management Co. purchased a new position in Titan International during the second quarter worth approximately $105,000. Institutional investors and hedge funds own 77.14% of the company’s stock.
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.
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