Titan International (NYSE:TWI) Trading Up 12.9% - Still a Buy?

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TWI. Cantor Fitzgerald began coverage on shares of Titan International in a research note on Thursday, March 20th. They set an "overweight" rating and a $11.00 price objective for the company. Noble Financial began coverage on shares of Titan International in a research note on Wednesday, June 4th. They set an "outperform" rating and a $11.00 price objective for the company. Finally, Wall Street Zen raised shares of Titan International from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th.

Titan International Stock Performance

The company has a market capitalization of $594.17 million, a price-to-earnings ratio of -77.73 and a beta of 1.95. The company has a current ratio of 2.38, a quick ratio of 1.33 and a debt-to-equity ratio of 0.84. The stock's fifty day simple moving average is $7.14 and its 200-day simple moving average is $7.67.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The business had revenue of $490.71 million for the quarter, compared to analyst estimates of $466.86 million. Titan International had a positive return on equity of 5.76% and a negative net margin of 0.51%. Analysts predict that Titan International, Inc. will post 0.03 EPS for the current year.

Institutional Investors Weigh In On Titan International

A number of large investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its position in shares of Titan International by 1.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,743,587 shares of the industrial products company's stock valued at $18,629,000 after buying an additional 27,616 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Titan International by 21.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,953,866 shares of the industrial products company's stock valued at $13,267,000 after buying an additional 344,658 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Titan International by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,138,329 shares of the industrial products company's stock valued at $7,732,000 after buying an additional 5,940 shares during the last quarter. EVR Research LP purchased a new position in shares of Titan International in the 1st quarter valued at $9,229,000. Finally, Royce & Associates LP grew its position in shares of Titan International by 1,059.1% in the 1st quarter. Royce & Associates LP now owns 918,114 shares of the industrial products company's stock valued at $7,703,000 after buying an additional 838,902 shares during the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

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.