Titan International Inc (TWI) Receives $14.50 Average Target Price from Brokerages
Shares of Titan International Inc (NYSE:TWI) have received an average recommendation of “Buy” from the six analysts that are covering the stock. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $14.50.
TWI has been the subject of several recent research reports. William Blair raised Titan International from a “market perform” rating to an “outperform” rating in a report on Friday, January 27th. Zacks Investment Research raised Titan International from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, February 1st. Feltl & Co. reissued a “buy” rating on shares of Titan International in a report on Thursday, March 16th. Jefferies Group LLC reissued an “underperform” rating and set a $14.00 price target (up previously from $11.50) on shares of Titan International in a report on Friday, April 14th. Finally, Sidoti raised Titan International from a “neutral” rating to a “buy” rating in a report on Tuesday, April 18th.
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Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised 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 worth $29,213,000 after buying an additional 193,200 shares during the period. State Street Corp raised 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 worth $10,852,000 after buying an additional 62,930 shares during the period. BlackRock Inc. raised its position in Titan International by 798.0% in the third quarter. BlackRock Inc. now owns 112,095 shares of the industrial products company’s stock worth $1,135,000 after buying an additional 99,612 shares during the period. Royce & Associates LP raised its position in Titan International by 116.5% in the fourth quarter. Royce & Associates LP now owns 428,700 shares of the industrial products company’s stock worth $4,806,000 after buying an additional 230,700 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in Titan International during the fourth quarter worth $580,000. 81.79% of the stock is owned by hedge funds and other institutional investors.
Shares of Titan International (NYSE:TWI) traded up 7.41% during mid-day trading on Monday, reaching $10.44. The company had a trading volume of 555,934 shares. The firm has a 50 day moving average of $10.25 and a 200-day moving average of $11.29. Titan International has a one year low of $5.76 and a one year high of $14.23. The stock’s market capitalization is $622.82 million.
Titan International (NYSE:TWI) last released its quarterly earnings results on Thursday, May 4th. The industrial products company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.09. Titan International had a negative net margin of 6.86% and a negative return on equity of 12.49%. The company had revenue of $357.50 million for the quarter, compared to the consensus estimate of $332.14 million. During the same period in the prior year, the firm posted ($0.33) EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts forecast that Titan International will post ($0.08) EPS for the current fiscal year.
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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