Brokerages Set Titan International Inc (TWI) PT at $14.50
Titan International Inc (NYSE:TWI) has received a consensus rating of “Buy” from the six research firms that are currently covering the firm. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.50.
A number of brokerages have recently issued reports on TWI. Zacks Investment Research raised Titan International from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, February 1st. Jefferies Group LLC reissued an “underperform” rating and set a $14.00 target price (up from $11.50) on shares of Titan International in a research note on Friday, April 14th. Aegis began coverage on Titan International in a research note on Friday, December 23rd. They set a “buy” rating and a $15.00 target price for the company. Feltl & Co. reissued a “buy” rating on shares of Titan International in a research note on Thursday, March 16th. Finally, Sidoti raised Titan International from a “neutral” rating to a “buy” rating in a research note on Tuesday.
Shares of Titan International (NYSE:TWI) traded up 0.91% on Tuesday, hitting $10.01. The stock had a trading volume of 496,184 shares. The firm’s 50-day moving average price is $10.60 and its 200 day moving average price is $11.24. The firm’s market cap is $597.03 million. Titan International has a 52-week low of $5.60 and a 52-week high of $14.23.
Titan International (NYSE:TWI) last issued its earnings results on Wednesday, March 15th. The industrial products company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.15. The business had revenue of $307.30 million for the quarter, compared to analysts’ expectations of $311.02 million. Titan International had a negative return on equity of 12.49% and a negative net margin of 6.86%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company posted ($0.38) earnings per share. On average, equities research analysts predict that Titan International will post ($0.10) EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were paid a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.20%. The ex-dividend date was Wednesday, March 29th. Titan International’s payout ratio is currently -1.23%.
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A number of institutional investors have recently added to or reduced their stakes in TWI. Dimensional Fund Advisors LP increased its position in Titan International by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,281,067 shares of the industrial products company’s stock valued at $36,781,000 after buying an additional 527,385 shares during the last quarter. BlackRock Fund Advisors increased its position in Titan International by 9.0% in the third quarter. BlackRock Fund Advisors now owns 3,218,690 shares of the industrial products company’s stock valued at $32,573,000 after buying an additional 265,269 shares during the last quarter. Renaissance Technologies LLC increased its position in Titan International by 8.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,606,000 shares of the industrial products company’s stock valued at $29,213,000 after buying an additional 193,200 shares during the last quarter. Allianz Asset Management AG purchased a new position in Titan International during the fourth quarter valued at $12,321,000. Finally, State Street Corp increased its position in Titan International by 7.0% in the fourth quarter. State Street Corp now owns 968,171 shares of the industrial products company’s stock valued at $10,852,000 after buying an additional 62,930 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.
About Titan International
Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.
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