Titan International (NYSE:TWI) Reaches New 12-Month High - Here's Why

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TWI. Cantor Fitzgerald initiated coverage on shares of Titan International in a research report on Thursday, March 20th. They set an "overweight" rating and a $11.00 price objective for the company. Noble Financial initiated 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. Finally, Wall Street Zen upgraded Titan International from a "sell" rating to a "hold" rating in a report on Thursday, May 8th.

Titan International Trading Down 1.3%

The stock has a market cap of $682.91 million, a price-to-earnings ratio of -51.05 and a beta of 2.03. The business has a 50-day simple moving average of $8.07 and a two-hundred day simple moving average of $7.91. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 2.26.

Titan International (NYSE:TWI - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $0.01 earnings per share 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 during the quarter, compared to the consensus estimate of $466.86 million. As a group, research analysts forecast that Titan International, Inc. will post 0.03 EPS for the current year.

Insider Buying and Selling

In other news, CAO Anthony Eheli sold 25,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $9.24, for a total transaction of $231,000.00. Following the sale, the chief accounting officer owned 45,276 shares in the company, valued at $418,350.24. This represents a 35.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard M. Cashin, Jr. sold 212,398 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 176,461 shares of the company's stock, valued at $1,824,606.74. This represents a 54.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 301,348 shares of company stock valued at $3,086,520. Corporate insiders own 25.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TWI. Brooklyn Investment Group grew its holdings in Titan International by 1,286.4% during the first quarter. Brooklyn Investment Group now owns 5,934 shares of the industrial products company's stock worth $50,000 after purchasing an additional 5,506 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Titan International in the fourth quarter valued at approximately $54,000. First Trust Advisors LP bought a new position in shares of Titan International during the 4th quarter worth approximately $74,000. Balyasny Asset Management L.P. acquired a new position in shares of Titan International during the 4th quarter worth approximately $74,000. Finally, Miller Financial Services LLC bought a new stake in Titan International in the 4th quarter valued at $85,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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.