Titan International (NYSE:TWI) Hits New 52-Week High - Should You Buy?

Titan International, Inc. (NYSE:TWI - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $10.57 and last traded at $10.44, with a volume of 1840554 shares changing hands. The stock had previously closed at $9.22.

Analysts Set New Price Targets

Several equities research analysts have commented on TWI shares. Wall Street Zen raised shares of Titan International from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Cantor Fitzgerald started 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. Finally, Noble Financial started coverage on shares of Titan International in a research report on Wednesday, June 4th. They set an "outperform" rating and a $11.00 price objective for the company.

Titan International Price Performance

The company's 50-day moving average price is $7.93 and its 200-day moving average price is $7.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.26 and a quick ratio of 1.25. The company has a market cap of $656.75 million, a P/E ratio of -49.10 and a beta of 1.95.

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 (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). Titan International had a negative return on equity of 0.05% and a negative net margin of 0.83%. The company had revenue of $490.71 million for the quarter, compared to the consensus estimate of $466.86 million. As a group, sell-side analysts predict that Titan International, Inc. will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Titan International news, CAO Anthony Eheli sold 25,000 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $9.24, for a total value of $231,000.00. Following the completion of the sale, the chief accounting officer 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 SEC, which is available through this link. Company insiders own 32.50% of the company's stock.

Institutional Trading of Titan International

Large investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its stake in Titan International by 1,286.4% in the first quarter. Brooklyn Investment Group now owns 5,934 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 5,506 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Titan International in the fourth quarter valued at $54,000. First Trust Advisors LP acquired a new stake in Titan International in the fourth quarter valued at $74,000. Balyasny Asset Management L.P. acquired a new stake in Titan International in the fourth quarter valued at $74,000. Finally, Miller Financial Services LLC acquired a new stake in Titan International in the fourth quarter valued at $85,000. Institutional investors and hedge funds own 80.39% of the company's stock.

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.