DA Davidson Issues Pessimistic Forecast for Titan International (NYSE:TWI) Stock Price

Key Points

• DA Davidson lowered Titan International’s price target from $13 to $10 but maintained a “buy” rating, implying roughly 103% upside from the stock’s $4.92 price.
• Analyst sentiment is mixed: Wall Street Zen downgraded the stock to “sell,” Weiss Ratings reiterated a “sell” rating, and the overall consensus is “hold” with a $10 target.
• Titan reported a quarterly loss of $0.03 per share, slightly better than expected, but revenue of $335.18 million fell well short of the $448.82 million consensus estimate; institutional investors own 80.39% of the company.

Titan International (NYSE:TWI - Get Free Report) had its target price lowered by investment analysts at DA Davidson from $13.00 to $10.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. DA Davidson's price target would suggest a potential upside of 103.05% from the stock's current price.

A number of other analysts also recently weighed in on TWI. Wall Street Zen downgraded shares of Titan International from a "hold" rating to a "sell" rating in a report on Saturday. Weiss Ratings reissued a "sell (d-)" rating on shares of Titan International in a research note on Friday, October 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Titan International has an average rating of "Hold" and a consensus target price of $10.00.

Titan International Stock Performance

TWI stock traded up $0.28 during trading hours on Monday, hitting $4.92. 206,713 shares of the stock were exchanged, compared to its average volume of 725,713. The company has a current ratio of 2.16, a quick ratio of 1.52 and a debt-to-equity ratio of 1.16. The company has a 50-day simple moving average of $6.98 and a two-hundred day simple moving average of $7.83. Titan International has a 12 month low of $4.58 and a 12 month high of $11.70. The firm has a market capitalization of $318.20 million, a P/E ratio of -2.69 and a beta of 1.53.

Titan International (NYSE:TWI - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The industrial products company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Titan International had a negative net margin of 6.76% and a negative return on equity of 2.54%. The business had revenue of $335.18 million during the quarter, compared to analysts' expectations of $448.82 million. On average, analysts forecast that Titan International will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Titan International

Hedge funds have recently added to or reduced their stakes in the business. Aip LLC bought a new stake in shares of Titan International in the 2nd quarter valued at $68,468,485. Donald Smith & CO. Inc. bought a new position in Titan International during the 2nd quarter valued at $40,936,000. BlackRock Inc. bought a new position in shares of Titan International during the second quarter valued at about $35,922,000. Bank of America Corp DE purchased a new position in shares of Titan International in the 2nd quarter worth approximately $4,397,000. Finally, Empowered Funds LLC purchased a new position in Titan International in the second quarter worth $2,857,000. 80.39% of the stock is currently owned by institutional investors.

Titan International Company Profile

Titan International, Inc NYSE: TWI designs, manufactures and sells wheels, tires and undercarriage systems for off-highway vehicles and equipment. Its products are used in agricultural, construction, earthmoving, mining and other industrial applications, with offerings that include specialized tires, wheels, wheel assemblies, tracks and related components.

The company serves original equipment manufacturers and replacement, or aftermarket, customers. Its products are used on tractors, combines, planting and harvesting equipment, loaders, graders, haulage vehicles and other heavy-duty machinery.

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