Titan International (NYSE:TWI) Trading Up 5% – Here’s Why

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

Wall Street Analysts Forecast Growth

TWI has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Titan International from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Titan International in a report on Monday. Three equities research 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.33.

Titan International Price Performance

The firm has a market cap of $518.00 million, a price-to-earnings ratio of -81.00 and a beta of 1.39. The company’s fifty day moving average is $7.90 and its 200 day moving average is $8.52. The company has a quick ratio of 1.25, a current ratio of 2.28 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 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.07. Titan International had a negative net margin of 0.34% and a positive return on equity of 1.38%. The firm had revenue of $466.47 million for the quarter, compared to analysts’ expectations of $458.74 million. On average, equities research analysts predict that Titan International, Inc. will post 0.03 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Donald Smith & CO. Inc. lifted its position in shares of Titan International by 92.2% in the second quarter. Donald Smith & CO. Inc. now owns 1,459,953 shares of the industrial products company’s stock valued at $14,994,000 after buying an additional 700,467 shares during the last quarter. 1060 Capital LLC bought a new stake in Titan International in the 1st quarter valued at $4,536,000. EVR Research LP lifted its holdings in Titan International by 27.3% during the 2nd quarter. EVR Research LP now owns 1,400,000 shares of the industrial products company’s stock valued at $14,378,000 after purchasing an additional 300,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Titan International by 38.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 685,446 shares of the industrial products company’s stock worth $5,751,000 after purchasing an additional 191,035 shares during the period. Finally, Two Sigma Investments LP increased its holdings in shares of 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 valued at $3,420,000 after purchasing an additional 186,048 shares during the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

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.