Titan International, Inc. (TWI) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Titan International, Inc. (NYSE:TWI) from a sell rating to a hold rating in a research note issued to investors on Thursday.
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. “
Several other equities analysts have also commented on TWI. TheStreet raised shares of Titan International from a d+ rating to a c- rating in a report on Monday, November 6th. BidaskClub cut shares of Titan International from a buy rating to a hold rating in a research report on Thursday, August 10th. Jefferies Group LLC reissued a hold rating and set a $12.00 price target on shares of Titan International in a research report on Sunday, November 5th. Finally, ValuEngine cut shares of Titan International from a hold rating to a sell rating in a research report on Wednesday, August 16th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $13.50.
Titan International (NYSE TWI) opened at $11.03 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.28 and a debt-to-equity ratio of 1.17. Titan International has a twelve month low of $7.97 and a twelve month high of $14.23.
Titan International (NYSE:TWI) last released its earnings results on Thursday, November 2nd. The industrial products company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. Titan International had a negative net margin of 3.19% and a negative return on equity of 9.22%. The company had revenue of $370.99 million for the quarter, compared to analyst estimates of $331.30 million. During the same quarter last year, the firm earned ($0.15) EPS. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. equities research analysts forecast that Titan International will post -0.62 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its position in Titan International by 94.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,447 shares of the industrial products company’s stock valued at $113,000 after buying an additional 4,597 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in Titan International during the 2nd quarter valued at $125,000. IndexIQ Advisors LLC boosted its position in Titan International by 0.6% during the 2nd quarter. IndexIQ Advisors LLC now owns 11,723 shares of the industrial products company’s stock valued at $141,000 after buying an additional 66 shares during the period. Westpac Banking Corp purchased a new stake in Titan International during the 2nd quarter valued at $152,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in Titan International during the 1st quarter valued at $170,000. 86.38% of the stock is owned by institutional investors and hedge funds.
Titan International Company Profile
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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