Titan International, Inc. (TWI) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Titan International, Inc. (NYSE:TWI) from a sell rating to a hold rating in a research note released on Thursday.

According to Zacks, “Titan International, Inc. is a global manufacturer of off-highway steel wheels and tires in the agricultural, earthmoving/construction and consumer markets. Titan generally manufactures both wheels and tires for these markets and provides the value-added service of assembling the completed wheel-tire system. They offer a broad range of different products that are manufactured in relatively short production runs to meet original equipment manufacturers’ specifications and/or aftermarket customer requirements. “

Other equities analysts have also issued research reports about the company. BidaskClub upgraded Titan International from a hold rating to a buy rating in a research note on Wednesday, August 2nd. TheStreet upgraded Titan International from a d+ rating to a c- rating in a research note on Monday, November 6th. Jefferies Group LLC restated a hold rating and set a $12.00 price objective on shares of Titan International in a research note on Sunday, November 5th. Finally, ValuEngine upgraded Titan International from a sell rating to a hold rating in a research note on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $13.50.

Titan International (NYSE TWI) traded down $0.14 during trading on Thursday, reaching $11.03. The company’s stock had a trading volume of 163,900 shares, compared to its average volume of 240,736. Titan International has a 12-month low of $7.97 and a 12-month high of $14.23. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.28 and a current ratio of 2.22.

Titan International (NYSE:TWI) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported ($0.09) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.03. Titan International had a negative return on equity of 9.22% and a negative net margin of 3.19%. The firm had revenue of $370.99 million for the quarter, compared to analyst estimates of $331.30 million. During the same quarter last year, the company earned ($0.15) EPS. The company’s revenue was up 21.2% on a year-over-year basis. equities research analysts expect that Titan International will post -0.62 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Titan International, Inc. (TWI) Raised to “Hold” at Zacks Investment Research” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://ledgergazette.com/2017/11/12/titan-international-inc-twi-raised-to-hold-at-zacks-investment-research.html.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a $0.005 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.18%. Titan International’s payout ratio is -2.41%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Titan International by 66.5% in the 3rd quarter. Wells Fargo & Company MN now owns 50,988 shares of the industrial products company’s stock valued at $518,000 after purchasing an additional 20,370 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Titan International by 6.3% in the 3rd quarter. Legal & General Group Plc now owns 91,601 shares of the industrial products company’s stock valued at $930,000 after purchasing an additional 5,459 shares during the last quarter. Cortina Asset Management LLC increased its stake in shares of Titan International by 32.0% in the 3rd quarter. Cortina Asset Management LLC now owns 626,696 shares of the industrial products company’s stock valued at $6,361,000 after purchasing an additional 152,054 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Titan International by 2.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 726,234 shares of the industrial products company’s stock valued at $7,373,000 after purchasing an additional 19,670 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. increased its stake in shares of Titan International by 25.2% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 41,688 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 8,402 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

About Titan International

Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.

Get a free copy of the Zacks research report on Titan International (TWI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Titan International (NYSE:TWI)

Receive News & Ratings for Titan International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply