Titan International (NYSE:TWI) Stock Price Up 7.6% – Time to Buy?

Titan International, Inc. (NYSE:TWI)’s stock price was up 7.6% on Monday . The stock traded as high as $8.89 and last traded at $8.8350. Approximately 70,579 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 627,113 shares. The stock had previously closed at $8.21.

Analysts Set New Price Targets

A number of research analysts have issued reports on TWI shares. Wall Street Zen upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Titan International in a report on Monday, December 1st. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.33.

Titan International Trading Up 3.4%

The business’s fifty day moving average is $7.75 and its 200-day moving average is $8.46. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.25 and a current ratio of 2.28. The firm has a market cap of $542.81 million, a P/E ratio of -84.95 and a beta of 1.39.

Titan International (NYSE:TWI) last posted its earnings results on Wednesday, November 5th. The industrial products company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The firm had revenue of $466.47 million for the quarter, compared to analyst estimates of $458.74 million. Titan International had a negative net margin of 0.34% and a positive return on equity of 1.38%. Analysts predict that Titan International, Inc. will post 0.03 EPS for the current year.

Institutional Investors Weigh In On Titan International

A number of institutional investors have recently made changes to their positions in TWI. PharVision Advisers LLC acquired a new stake in shares of Titan International in the third quarter valued at about $173,000. Verition Fund Management LLC boosted its holdings in Titan International by 46.1% in the third quarter. Verition Fund Management LLC now owns 133,042 shares of the industrial products company’s stock valued at $1,006,000 after acquiring an additional 42,000 shares during the last quarter. Quarry LP acquired a new stake in Titan International during the 3rd quarter valued at approximately $27,000. Virtu Financial LLC bought a new position in Titan International during the 3rd quarter worth approximately $84,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Titan International by 47.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,886 shares of the industrial products company’s stock worth $173,000 after purchasing an additional 7,362 shares during the period. Institutional investors own 80.39% of the company’s stock.

About Titan International

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.