Titan International (NYSE:TWI) Shares Gap Up – Here’s What Happened

Shares of Titan International, Inc. (NYSE:TWI) gapped up before the market opened on Friday . The stock had previously closed at $7.92, but opened at $8.19. Titan International shares last traded at $8.77, with a volume of 122,579 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TWI shares. DA Davidson assumed coverage on Titan International in a research report on Friday, December 13th. They issued a “buy” rating and a $11.00 price objective on the stock. StockNews.com upgraded shares of Titan International from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th.

Titan International Stock Up 7.5 %

The business has a 50-day moving average price of $7.89 and a 200-day moving average price of $7.66. The stock has a market cap of $537.63 million, a PE ratio of -70.96 and a beta of 1.82. The company has a current ratio of 2.38, a quick ratio of 1.33 and a debt-to-equity ratio of 0.84.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position 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 valued at $13,083,000 after acquiring an additional 388,864 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in Titan International during the 4th quarter worth $1,482,000. First Eagle Investment Management LLC acquired a new stake in shares of Titan International in the fourth quarter valued at about $1,211,000. Jane Street Group LLC lifted its stake in shares of Titan International by 105.6% in the fourth quarter. Jane Street Group LLC now owns 313,415 shares of the industrial products company’s stock worth $2,128,000 after buying an additional 160,975 shares in the last quarter. Finally, Villanova Investment Management Co LLC acquired a new position in Titan International during the third quarter worth about $1,110,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Titan International Company Profile

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.