Titan International (NYSE:TWI) Shares Up 5% – Should You Buy?

Titan International, Inc. (NYSE:TWI)’s stock price shot up 5% during mid-day trading on Wednesday . The stock traded as high as $8.24 and last traded at $8.1490. 127,723 shares were traded during trading, a decline of 80% from the average session volume of 642,949 shares. The stock had previously closed at $7.76.

Analyst Ratings Changes

TWI has been the subject of several recent analyst reports. Wall Street Zen upgraded Titan International from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Titan International in a report on Monday. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.33.

Titan International Price Performance

The firm’s 50-day moving average price is $7.87 and its 200-day moving average price is $8.53. The company has a current ratio of 2.28, a quick ratio of 1.25 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $521.83 million, a PE ratio of -81.55 and a beta of 1.39.

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

Hedge Funds Weigh In On Titan International

Several hedge funds have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its holdings in shares of Titan International by 0.3% in the third quarter. First Eagle Investment Management LLC now owns 622,251 shares of the industrial products company’s stock worth $4,704,000 after buying an additional 2,000 shares during the period. SummerHaven Investment Management LLC grew its position in Titan International by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 110,861 shares of the industrial products company’s stock valued at $1,139,000 after acquiring an additional 2,125 shares during the last quarter. State of Alaska Department of Revenue grew its position in Titan International by 8.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 28,842 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 2,253 shares during the last quarter. Hsbc Holdings PLC increased its stake in Titan International by 25.4% in the first quarter. Hsbc Holdings PLC now owns 14,678 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 2,969 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of Titan International by 6.3% during the second quarter. Prudential Financial Inc. now owns 52,026 shares of the industrial products company’s stock worth $534,000 after purchasing an additional 3,085 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

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.