Titan International (NYSE:TWI) Given Buy Rating at DA Davidson

Titan International (NYSE:TWI)‘s stock had its “buy” rating reissued by DA Davidson in a research note issued on Friday,Benzinga reports. They currently have a $13.00 price target on the industrial products company’s stock. DA Davidson’s target price points to a potential upside of 68.18% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Titan International in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Titan International from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.00.

Titan International Stock Performance

Shares of NYSE TWI traded up $0.34 during trading hours on Friday, reaching $7.73. 81,944 shares of the stock were exchanged, compared to its average volume of 828,131. The firm has a market capitalization of $497.58 million, a price-to-earnings ratio of -5.64 and a beta of 1.45. The stock’s fifty day simple moving average is $7.72 and its 200 day simple moving average is $8.38. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.22 and a current ratio of 2.19. Titan International has a 52 week low of $6.43 and a 52 week high of $11.70.

Titan International (NYSE:TWI) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.39). The firm had revenue of $505.07 million during the quarter, compared to the consensus estimate of $497.23 million. Titan International had a negative net margin of 4.72% and a negative return on equity of 3.00%. Sell-side analysts predict that Titan International will post -0.09 EPS for the current year.

Institutional Trading of Titan International

A number of institutional investors have recently modified their holdings of the stock. State of Wyoming grew its holdings in shares of Titan International by 45.2% during the 1st quarter. State of Wyoming now owns 4,758 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 1,482 shares in the last quarter. Deutsche Bank AG raised its stake in Titan International by 4.8% in the fourth quarter. Deutsche Bank AG now owns 41,775 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 1,913 shares in the last quarter. First Eagle Investment Management LLC lifted its position in Titan International by 0.3% during the third quarter. First Eagle Investment Management LLC now owns 622,251 shares of the industrial products company’s stock worth $4,704,000 after purchasing an additional 2,000 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Titan International by 4.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 58,657 shares of the industrial products company’s stock worth $459,000 after purchasing an additional 2,573 shares during the period. Finally, Prudential Financial Inc. grew its stake in Titan International by 6.3% during the second quarter. Prudential Financial Inc. now owns 52,026 shares of the industrial products company’s stock worth $534,000 after buying an additional 3,085 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors.

Titan International Company Profile

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.