Titan International (NYSE:TWI) Trading Up 12.9% - Here's What Happened

Shares of Titan International, Inc. (NYSE:TWI - Get Free Report) traded up 12.9% during trading on Monday . The stock traded as high as $8.84 and last traded at $9.16. 68,748 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 714,743 shares. The stock had previously closed at $8.11.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Cantor Fitzgerald assumed coverage on Titan International in a research report on Thursday, March 20th. They issued an "overweight" rating and a $11.00 target price for the company. Wall Street Zen raised Titan International from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Noble Financial assumed coverage on Titan International in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $11.00 target price for the company.

Titan International Stock Performance

The stock has a market capitalization of $579.71 million, a P/E ratio of -75.83 and a beta of 1.95. The firm has a 50-day moving average of $7.26 and a 200 day moving average of $7.71. The company has a quick ratio of 1.33, a current ratio of 2.38 and a debt-to-equity ratio of 0.84.

Titan International (NYSE:TWI - Get Free Report) last released 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 positive return on equity of 5.76% and a negative net margin of 0.51%. The company had revenue of $490.71 million for the quarter, compared to analyst estimates of $466.86 million. Research analysts anticipate that Titan International, Inc. will post 0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TWI. Empowered Funds LLC raised its stake in Titan International by 5.1% during the fourth quarter. Empowered Funds LLC now owns 312,387 shares of the industrial products company's stock worth $2,121,000 after acquiring an additional 15,245 shares in the last quarter. Principal Financial Group Inc. raised its stake in Titan International by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 232,819 shares of the industrial products company's stock worth $1,581,000 after acquiring an additional 1,464 shares in the last quarter. Mraz Amerine & Associates Inc. acquired a new position in Titan International during the fourth quarter worth $74,000. Capital Investment Counsel Inc raised its stake in Titan International by 21.3% during the fourth quarter. Capital Investment Counsel Inc now owns 143,878 shares of the industrial products company's stock worth $977,000 after acquiring an additional 25,275 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Titan International during the fourth quarter worth $126,000. 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.