ValuEngine upgraded shares of Titan International (NYSE:TWI) from a strong sell rating to a sell rating in a research note released on Friday, August 24th.
A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Titan International from a hold rating to a strong sell rating in a research report on Thursday, August 9th. Jefferies Financial Group dropped their price objective on shares of Titan International from $12.00 to $8.50 and set a hold rating for the company in a report on Tuesday, August 7th. Finally, William Blair cut shares of Titan International from an outperform rating to a market perform rating and set a $21.00 price objective for the company. in a report on Friday, August 3rd. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. Titan International presently has a consensus rating of Hold and a consensus price target of $14.50.
Shares of NYSE:TWI traded up $0.25 during midday trading on Friday, hitting $7.14. The company’s stock had a trading volume of 328,004 shares, compared to its average volume of 362,551. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.05 and a quick ratio of 1.14. Titan International has a 12-month low of $6.71 and a 12-month high of $14.53.
Titan International (NYSE:TWI) last issued its earnings results on Friday, August 3rd. The industrial products company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). Titan International had a positive return on equity of 3.38% and a negative net margin of 1.47%. The firm had revenue of $428.90 million for the quarter, compared to analysts’ expectations of $427.32 million. During the same period last year, the firm earned ($0.17) earnings per share. Titan International’s revenue for the quarter was up 17.7% on a year-over-year basis. research analysts expect that Titan International will post 0.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a dividend of $0.005 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.02 annualized dividend and a yield of 0.28%. Titan International’s dividend payout ratio is presently -4.08%.
In other Titan International news, CFO David A. Martin purchased 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were purchased at an average cost of $7.21 per share, with a total value of $144,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maurice M. Taylor, Jr. purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was acquired at an average cost of $7.20 per share, for a total transaction of $720,000.00. Following the completion of the purchase, the director now owns 549,870 shares of the company’s stock, valued at approximately $3,959,064. The disclosure for this purchase can be found here. 17.30% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. WINTON GROUP Ltd lifted its stake in shares of Titan International by 6.4% in the second quarter. WINTON GROUP Ltd now owns 464,178 shares of the industrial products company’s stock worth $4,981,000 after buying an additional 27,997 shares in the last quarter. Millennium Management LLC raised its stake in Titan International by 4.9% during the second quarter. Millennium Management LLC now owns 284,840 shares of the industrial products company’s stock worth $3,056,000 after purchasing an additional 13,331 shares during the period. Zacks Investment Management purchased a new position in Titan International during the second quarter worth about $242,000. Paloma Partners Management Co acquired a new stake in shares of Titan International during the second quarter valued at about $149,000. Finally, Capital Fund Management S.A. acquired a new stake in shares of Titan International during the second quarter valued at about $254,000. 86.41% of the stock is currently owned by hedge funds and other institutional investors.
Titan International Company Profile
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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