Titan International (NYSE:TWI) Shares Gap Down After Earnings Miss

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Titan International, Inc. (NYSE:TWI - Get Free Report)'s stock price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $9.07, but opened at $8.29. Titan International shares last traded at $8.24, with a volume of 215,441 shares traded.

The industrial products company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Titan International had a negative net margin of 1.24% and a negative return on equity of 1.62%. The firm had revenue of $460.83 million for the quarter, compared to the consensus estimate of $483.84 million.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TWI. DA Davidson increased their price target on Titan International from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Noble Financial began coverage on Titan International in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $11.00 price target for the company. Finally, Wall Street Zen upgraded Titan International from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th.

Insider Transactions at Titan International

In other Titan International news, CAO Anthony Eheli sold 25,000 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $9.24, for a total transaction of $231,000.00. Following the completion of the sale, the chief accounting officer directly owned 45,276 shares in the company, valued at approximately $418,350.24. This trade represents a 35.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard M. Cashin, Jr. sold 212,398 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $10.34, for a total value of $2,196,195.32. Following the sale, the director owned 176,461 shares of the company's stock, 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 a total of 301,348 shares of company stock valued at $3,086,520 over the last 90 days. Corporate insiders own 25.00% of the company's stock.

Institutional Investors Weigh In On Titan International

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Titan International by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,628 shares of the industrial products company's stock worth $194,000 after purchasing an additional 1,216 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Titan International by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 108,736 shares of the industrial products company's stock worth $912,000 after purchasing an additional 1,628 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Titan International by 8.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 28,842 shares of the industrial products company's stock worth $295,000 after purchasing an additional 2,253 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Titan International by 25.4% during the 1st quarter. Hsbc Holdings PLC now owns 14,678 shares of the industrial products company's stock worth $124,000 after purchasing an additional 2,969 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Titan International by 14.1% during the 4th quarter. MetLife Investment Management LLC now owns 26,763 shares of the industrial products company's stock worth $182,000 after purchasing an additional 3,310 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Titan International Price Performance

The stock has a 50 day moving average price of $9.16 and a two-hundred day moving average price of $8.34. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.27 and a current ratio of 2.35. The company has a market capitalization of $549.13 million, a PE ratio of -27.81 and a beta of 2.05.

Titan International Company Profile

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.