Titan International (NYSE:TWI) Trading 5.1% Higher – Here’s Why

Titan International, Inc. (NYSE:TWI) rose 5.1% during trading on Thursday . The stock traded as high as $8.08 and last traded at $7.98. Approximately 136,018 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 659,480 shares. The stock had previously closed at $7.59.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TWI shares. DA Davidson assumed coverage on shares of Titan International in a research report on Friday, December 13th. They set a “buy” rating and a $11.00 price target on the stock. StockNews.com upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th.

Titan International Stock Up 8.1 %

The company has a debt-to-equity ratio of 0.84, a current ratio of 2.38 and a quick ratio of 1.33. The stock has a 50 day simple moving average of $7.19 and a 200-day simple moving average of $7.53. The firm has a market cap of $518.06 million, a PE ratio of -68.38 and a beta of 1.82.

Titan International (NYSE:TWI) last issued its earnings results on Wednesday, October 30th. The industrial products company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.21). Titan International had a positive return on equity of 5.76% and a negative net margin of 0.51%. The firm had revenue of $447.99 million during the quarter, compared to the consensus estimate of $471.63 million. During the same quarter in the prior year, the company posted $0.29 EPS. Sell-side analysts predict that Titan International, Inc. will post 0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Villanova Investment Management Co LLC purchased a new stake in Titan International during the 3rd quarter valued at $1,110,000. Victory Capital Management Inc. grew its holdings in shares of Titan International by 31.9% in the third quarter. Victory Capital Management Inc. now owns 1,609,208 shares of the industrial products company’s stock worth $13,083,000 after acquiring an additional 388,864 shares during the period. Barclays PLC increased its position in Titan International by 207.1% during the third quarter. Barclays PLC now owns 107,669 shares of the industrial products company’s stock valued at $877,000 after acquiring an additional 72,612 shares during the last quarter. GAMMA Investing LLC boosted its position in Titan International by 136.2% in the fourth quarter. GAMMA Investing LLC now owns 5,431 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 3,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Titan International by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 506,551 shares of the industrial products company’s stock valued at $4,118,000 after purchasing an additional 6,112 shares during the period. Institutional investors own 80.39% of the company’s stock.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.