Titan International (NYSE:TWI) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Titan International (NYSE:TWI) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Titan International, Inc. is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. The company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. “

Other equities analysts also recently issued reports about the stock. TheStreet raised shares of Titan International from a d+ rating to a c- rating in a research note on Tuesday, March 5th. ValuEngine raised shares of Titan International from a strong sell rating to a sell rating in a research note on Thursday, March 7th. Finally, Sidoti set a $10.00 price target on shares of Titan International and gave the stock a buy rating in a research note on Wednesday, February 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Titan International has a consensus rating of Hold and a consensus target price of $11.44.

Shares of NYSE TWI opened at $4.01 on Tuesday. Titan International has a 52-week low of $3.96 and a 52-week high of $12.08. The stock has a market capitalization of $262.80 million, a PE ratio of 14.85 and a beta of 2.06. The company has a current ratio of 1.91, a quick ratio of 0.97 and a debt-to-equity ratio of 1.49.

Titan International (NYSE:TWI) last announced its earnings results on Friday, May 3rd. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.13). The company had revenue of $410.40 million during the quarter, compared to analyst estimates of $429.30 million. Titan International had a negative net margin of 0.77% and a negative return on equity of 2.44%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS. Research analysts predict that Titan International will post 0.37 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Comerica Bank raised its stake in Titan International by 3.8% during the first quarter. Comerica Bank now owns 50,211 shares of the industrial products company’s stock worth $326,000 after purchasing an additional 1,816 shares during the period. Hsbc Holdings PLC raised its stake in Titan International by 5.1% during the first quarter. Hsbc Holdings PLC now owns 46,341 shares of the industrial products company’s stock worth $276,000 after purchasing an additional 2,259 shares during the period. Principal Financial Group Inc. raised its stake in Titan International by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 408,612 shares of the industrial products company’s stock worth $1,904,000 after purchasing an additional 2,484 shares during the period. SG Americas Securities LLC raised its stake in Titan International by 14.7% during the first quarter. SG Americas Securities LLC now owns 19,901 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 2,544 shares during the period. Finally, Financial Engines Advisors L.L.C. raised its stake in Titan International by 7.5% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 37,422 shares of the industrial products company’s stock worth $174,000 after purchasing an additional 2,612 shares during the period. 85.55% of the stock is currently owned by institutional investors.

Titan International Company Profile

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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