Titan International (NYSE:TWI) Upgraded to Strong-Buy at Zacks Investment Research

Titan International (NYSE:TWIGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Saturday, Zacks.com reports. The firm currently has a $18.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 15.46% from the company’s previous close.

According to Zacks, “Titan International, Inc. is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. The company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. “

Separately, StockNews.com raised Titan International from a “hold” rating to a “buy” rating in a research note on Sunday, April 24th.

Shares of TWI stock opened at $15.59 on Friday. The business’s fifty day moving average price is $13.99 and its 200 day moving average price is $10.91. Titan International has a 1-year low of $6.69 and a 1-year high of $17.60. The firm has a market capitalization of $976.87 million, a PE ratio of 16.41 and a beta of 2.42. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.85 and a quick ratio of 0.93.

Titan International (NYSE:TWIGet Rating) last posted its earnings results on Tuesday, May 3rd. The industrial products company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.16. Titan International had a return on equity of 37.62% and a net margin of 3.10%. During the same period last year, the business earned $0.07 EPS. Equities research analysts expect that Titan International will post 1.57 earnings per share for the current fiscal year.

In other news, Director Maurice M. Taylor, Jr. sold 39,370 shares of the firm’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $14.30, for a total value of $562,991.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 18.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of TWI. Invesco Ltd. grew its stake in Titan International by 99.2% during the 4th quarter. Invesco Ltd. now owns 1,466,033 shares of the industrial products company’s stock valued at $16,068,000 after purchasing an additional 730,033 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Titan International by 423.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 568,918 shares of the industrial products company’s stock worth $4,071,000 after acquiring an additional 460,214 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Titan International by 848.3% in the 4th quarter. JPMorgan Chase & Co. now owns 456,511 shares of the industrial products company’s stock worth $5,003,000 after acquiring an additional 408,373 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Titan International by 396.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 428,360 shares of the industrial products company’s stock worth $3,068,000 after acquiring an additional 341,999 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Titan International by 3.2% in the 4th quarter. BlackRock Inc. now owns 8,341,089 shares of the industrial products company’s stock worth $91,418,000 after acquiring an additional 258,462 shares in the last quarter. Institutional investors and hedge funds own 75.23% of the company’s stock.

Titan International Company Profile (Get Rating)

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, the Middle East, Africa, Russia, and internationally.

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