Titan International (NYSE:TWI) Reaches New 1-Year High - Still a Buy?

Titan International, Inc. (NYSE:TWI - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $10.86 and last traded at $10.83, with a volume of 685745 shares trading hands. The stock had previously closed at $10.47.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Titan International in a research note on Thursday, March 20th. They issued an "overweight" rating and a $11.00 target price on the stock. Wall Street Zen raised shares of Titan International from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Noble Financial assumed 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 on the stock.

Titan International Price Performance

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 business's 50-day simple moving average is $8.20 and its 200 day simple moving average is $7.97. The firm has a market capitalization of $682.86 million, a P/E ratio of -51.05 and a beta of 2.03.

Titan International (NYSE:TWI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.01 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $490.71 million for the quarter, compared to the consensus estimate of $466.86 million. Sell-side analysts forecast that Titan International, Inc. will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In other Titan International news, CAO Anthony Eheli sold 25,000 shares of the stock in a transaction that occurred on 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 directly owned 45,276 shares in the company, valued at $418,350.24. This trade represents a 35.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard M. Cashin, Jr. sold 212,398 shares of the stock in a transaction that occurred on 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 owned 176,461 shares in the company, valued at $1,824,606.74. The trade was a 54.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 301,348 shares of company stock worth $3,086,520 over the last quarter. Company insiders own 32.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TWI. EVR Research LP bought a new stake in Titan International in the 1st quarter worth $9,229,000. Royce & Associates LP grew its holdings in Titan International by 1,059.1% in the 1st quarter. Royce & Associates LP now owns 918,114 shares of the industrial products company's stock worth $7,703,000 after acquiring an additional 838,902 shares during the last quarter. 1060 Capital LLC bought a new stake in Titan International in the 1st quarter worth $4,536,000. Victory Capital Management Inc. grew its holdings in Titan International by 21.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,953,866 shares of the industrial products company's stock worth $13,267,000 after acquiring an additional 344,658 shares during the last quarter. Finally, Donald Smith & CO. Inc. boosted its holdings 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 acquiring an additional 258,581 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other 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.