Titan International (NYSE:TWI) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Titan International, Inc. (NYSE:TWI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.37 and traded as high as $9.38. Titan International shares last traded at $9.30, with a volume of 569,298 shares traded.

Analyst Ratings Changes

A number of equities analysts recently commented on TWI shares. Wall Street Zen raised Titan International from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Titan International in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Titan International presently has an average rating of “Moderate Buy” and a consensus target price of $11.33.

Titan International Trading Up 2.6%

The company has a 50-day moving average price of $8.15 and a two-hundred day moving average price of $8.36. The stock has a market cap of $572.35 million, a P/E ratio of -89.80 and a beta of 1.41. The company has a current ratio of 2.28, a quick ratio of 1.25 and a debt-to-equity ratio of 0.97.

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

Institutional Trading of Titan International

Several institutional investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its stake in Titan International by 92.2% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,459,953 shares of the industrial products company’s stock worth $14,994,000 after buying an additional 700,467 shares during the period. EVR Research LP lifted its position in Titan International by 27.3% during the second quarter. EVR Research LP now owns 1,400,000 shares of the industrial products company’s stock valued at $14,378,000 after acquiring an additional 300,000 shares during the last quarter. Two Sigma Investments LP grew its holdings in Titan International by 69.9% in the third quarter. Two Sigma Investments LP now owns 452,317 shares of the industrial products company’s stock worth $3,420,000 after purchasing an additional 186,048 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Titan International by 11.3% during the third quarter. Victory Capital Management Inc. now owns 1,649,715 shares of the industrial products company’s stock worth $12,472,000 after purchasing an additional 167,032 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Titan International by 35.1% during the 2nd quarter. Bank of America Corp DE now owns 584,390 shares of the industrial products company’s stock valued at $6,002,000 after purchasing an additional 151,888 shares during the last quarter. Institutional investors own 80.39% of the company’s stock.

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.