Titan International (NYSE:TWI) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Titan International (NYSE:TWI) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.14, FiscalAI reports. The company had revenue of $484.77 million for the quarter, compared to analysts’ expectations of $480.06 million. Titan International had a negative return on equity of 3.00% and a negative net margin of 4.72%.

Titan International Trading Down 4.3%

NYSE:TWI traded down $0.33 during midday trading on Thursday, reaching $7.32. 586,894 shares of the stock traded hands, compared to its average volume of 764,151. The stock has a market capitalization of $471.12 million, a P/E ratio of -5.34 and a beta of 1.45. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.22 and a current ratio of 2.19. The company has a fifty day moving average of $7.53 and a 200 day moving average of $8.25. Titan International has a 12 month low of $6.43 and a 12 month high of $11.70.

Hedge Funds Weigh In On Titan International

Several hedge funds and other institutional investors have recently modified their holdings of TWI. Quarry LP purchased a new stake in shares of Titan International during the third quarter worth about $27,000. Russell Investments Group Ltd. raised its position in Titan International by 22,000.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,199 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 4,180 shares during the last quarter. Quantbot Technologies LP bought a new position in Titan International during the 2nd quarter valued at approximately $46,000. Tower Research Capital LLC TRC lifted its holdings in Titan International by 191.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,189 shares of the industrial products company’s stock worth $53,000 after buying an additional 3,410 shares during the period. Finally, Osaic Holdings Inc. grew its position in shares of Titan International by 2,953.5% in the 2nd quarter. Osaic Holdings Inc. now owns 7,817 shares of the industrial products company’s stock worth $80,000 after buying an additional 7,561 shares during the last quarter. 80.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. DA Davidson reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Titan International in a research note on Friday, June 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Titan International in a research report on Monday, July 20th. Finally, Wall Street Zen raised shares of Titan International from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.00.

About Titan International

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.