DA Davidson Forecasts Strong Price Appreciation for Titan International (NYSE:TWI) Stock

Titan International (NYSE:TWI - Get Free Report) had its price objective hoisted by equities researchers at DA Davidson from $10.00 to $12.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. DA Davidson's price target suggests a potential upside of 26.52% from the company's previous close.

TWI has been the subject of a number of other reports. Noble Financial began coverage on shares of Titan International in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $11.00 target price for the company. Wall Street Zen raised shares of Titan International from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th.

Titan International Trading Up 3.7%

Shares of TWI traded up $0.34 on Tuesday, hitting $9.49. 93,748 shares of the stock traded hands, compared to its average volume of 681,392. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $604.19 million, a P/E ratio of -45.17 and a beta of 2.03. Titan International has a 1 year low of $5.93 and a 1 year high of $10.94. The stock's 50 day moving average is $8.78 and its two-hundred day moving average is $8.17.

Titan International (NYSE:TWI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). Titan International had a negative net margin of 0.83% and a negative return on equity of 0.05%. The firm had revenue of $490.71 million during the quarter, compared to the consensus estimate of $466.86 million. As a group, sell-side analysts predict that Titan International will post 0.03 earnings per share for the current year.

Insider Activity

In other Titan International news, Director Richard M. Cashin, Jr. sold 212,398 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $10.34, for a total transaction of $2,196,195.32. Following the transaction, the director directly owned 176,461 shares in the company, valued at approximately $1,824,606.74. This represents a 54.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Anthony Eheli sold 25,000 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $9.24, for a total transaction of $231,000.00. Following the transaction, the chief accounting officer owned 45,276 shares in the company, valued at approximately $418,350.24. The trade was a 35.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,348 shares of company stock worth $3,086,520. 32.50% of the stock is owned by insiders.

Institutional Trading of Titan International

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its holdings in Titan International by 1.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,743,587 shares of the industrial products company's stock worth $18,629,000 after purchasing an additional 27,616 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Titan International by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,138,329 shares of the industrial products company's stock valued at $7,732,000 after buying an additional 5,940 shares during the period. EVR Research LP bought a new stake in Titan International in the first quarter valued at approximately $9,229,000. Royce & Associates LP lifted its stake in Titan International by 1,059.1% in the first quarter. Royce & Associates LP now owns 918,114 shares of the industrial products company's stock valued at $7,703,000 after buying an additional 838,902 shares during the period. Finally, Donald Smith & CO. Inc. lifted its stake in Titan International by 51.6% in the first quarter. Donald Smith & CO. Inc. now owns 759,486 shares of the industrial products company's stock valued at $6,372,000 after buying an additional 258,581 shares during the period. 80.39% of the stock is owned by institutional investors.

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.

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