Zacks Investment Research upgraded shares of Titan International, Inc. (NYSE:TWI) from a sell rating to a hold rating in a research note released 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. “
Other equities analysts have also issued research reports about the company. BidaskClub upgraded Titan International from a hold rating to a buy rating in a research note on Wednesday, August 2nd. TheStreet upgraded Titan International from a d+ rating to a c- rating in a research note on Monday, November 6th. Jefferies Group LLC restated a hold rating and set a $12.00 price objective on shares of Titan International in a research note on Sunday, November 5th. Finally, ValuEngine upgraded Titan International from a sell rating to a hold rating in a research note on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $13.50.
Titan International (NYSE TWI) traded down $0.14 during trading on Thursday, reaching $11.03. The company’s stock had a trading volume of 163,900 shares, compared to its average volume of 240,736. Titan International has a 12-month low of $7.97 and a 12-month high of $14.23. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.28 and a current ratio of 2.22.
Titan International (NYSE:TWI) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported ($0.09) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.03. Titan International had a negative return on equity of 9.22% and a negative net margin of 3.19%. The firm had revenue of $370.99 million for the quarter, compared to analyst estimates of $331.30 million. During the same quarter last year, the company earned ($0.15) EPS. The company’s revenue was up 21.2% on a year-over-year basis. equities research analysts expect that Titan International will post -0.62 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a $0.005 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.18%. Titan International’s payout ratio is -2.41%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Titan International by 66.5% in the 3rd quarter. Wells Fargo & Company MN now owns 50,988 shares of the industrial products company’s stock valued at $518,000 after purchasing an additional 20,370 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Titan International by 6.3% in the 3rd quarter. Legal & General Group Plc now owns 91,601 shares of the industrial products company’s stock valued at $930,000 after purchasing an additional 5,459 shares during the last quarter. Cortina Asset Management LLC increased its stake in shares of Titan International by 32.0% in the 3rd quarter. Cortina Asset Management LLC now owns 626,696 shares of the industrial products company’s stock valued at $6,361,000 after purchasing an additional 152,054 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Titan International by 2.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 726,234 shares of the industrial products company’s stock valued at $7,373,000 after purchasing an additional 19,670 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. increased its stake in shares of Titan International by 25.2% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 41,688 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 8,402 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.
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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