Titan International, Inc. (NYSE:TWI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.36 and traded as high as $8.74. Titan International shares last traded at $8.65, with a volume of 275,930 shares changing hands.
Wall Street Analysts Forecast Growth
TWI has been the subject of a number of recent analyst reports. Noble Financial initiated coverage on shares of Titan International in a research report on Wednesday, June 4th. They set an "outperform" rating and a $11.00 target price for the company. DA Davidson increased their target price on shares of Titan International from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen raised shares of Titan International from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th.
Check Out Our Latest Report on TWI
Titan International Price Performance
The stock has a market capitalization of $552.99 million, a P/E ratio of -27.92 and a beta of 2.05. The business has a fifty day simple moving average of $9.35 and a 200-day simple moving average of $8.36. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.27 and a current ratio of 2.35.
Titan International (NYSE:TWI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The business had revenue of $460.83 million for the quarter, compared to the consensus estimate of $483.84 million. Titan International had a negative return on equity of 1.62% and a negative net margin of 1.24%. Sell-side analysts expect that Titan International, Inc. will post 0.03 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Titan International news, Director Richard M. Cashin, Jr. sold 212,398 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Anthony Eheli sold 25,000 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $9.24, for a total value of $231,000.00. Following the transaction, the chief accounting officer owned 45,276 shares in the company, valued at $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. Insiders have sold a total of 301,348 shares of company stock worth $3,086,520 over the last 90 days. Company insiders own 32.50% of the company's stock.
Hedge Funds Weigh In On Titan International
Large investors have recently modified their holdings of the company. AlphaQuest LLC bought a new position in shares of Titan International in the 2nd quarter worth $43,000. Quantbot Technologies LP bought a new position in shares of Titan International in the 2nd quarter worth $46,000. Tower Research Capital LLC TRC lifted its holdings in shares of Titan International by 191.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,189 shares of the industrial products company's stock worth $53,000 after purchasing an additional 3,410 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Titan International by 1,286.4% in the 1st 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 in the last quarter. Finally, Journey Strategic Wealth LLC bought a new position in shares of Titan International in the 2nd quarter worth $105,000. 80.39% of the stock is currently owned by institutional investors.
About Titan International
(
Get Free Report)
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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