Titan International (NYSE:TWI) Trading 12.9% Higher – Here’s What Happened

Titan International, Inc. (NYSE:TWI)’s share price shot up 12.9% during mid-day trading on Monday . The company traded as high as $8.84 and last traded at $9.16. 68,748 shares traded hands during trading, a decline of 90% from the average session volume of 714,743 shares. The stock had previously closed at $8.11.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TWI. Noble Financial began coverage on shares of Titan International in a report on Wednesday, June 4th. They set an “outperform” rating and a $11.00 target price on the stock. Wall Street Zen raised shares of Titan International from a “sell” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald assumed coverage on Titan International in a report on Thursday, March 20th. They set an “overweight” rating and a $11.00 price target for the company.

Titan International Stock Up 14.5%

The firm has a market cap of $591.81 million, a price-to-earnings ratio of -77.25 and a beta of 1.95. The firm has a fifty day simple moving average of $7.14 and a 200-day simple moving average of $7.67. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.38.

Titan International (NYSE:TWI) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The company had revenue of $490.71 million for the quarter, compared to analyst estimates of $466.86 million. Titan International had a positive return on equity of 5.76% and a negative net margin of 0.51%. As a group, sell-side analysts expect that Titan International, Inc. will post 0.03 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC lifted its stake in Titan International by 35.5% during the first quarter. Jane Street Group LLC now owns 424,724 shares of the industrial products company’s stock worth $3,563,000 after purchasing an additional 111,309 shares during the last quarter. 1060 Capital LLC bought a new stake in shares of Titan International during the 1st quarter worth $4,536,000. Empowered Funds LLC boosted its stake in Titan International by 4.2% in the first quarter. Empowered Funds LLC now owns 325,470 shares of the industrial products company’s stock valued at $2,731,000 after buying an additional 13,083 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Titan International by 2.9% in the first quarter. Bridgeway Capital Management LLC now owns 464,670 shares of the industrial products company’s stock valued at $3,899,000 after acquiring an additional 13,083 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Titan International by 23.6% during the first quarter. Royal Bank of Canada now owns 48,782 shares of the industrial products company’s stock worth $409,000 after acquiring an additional 9,327 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

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 the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.