Titan International (NYSE:TWI) Shares Up 8.4% - Here's What Happened

Titan International, Inc. (NYSE:TWI - Get Free Report) shares rose 8.4% during trading on Thursday . The company traded as high as $10.07 and last traded at $10.00. Approximately 211,798 shares traded hands during trading, a decline of 70% from the average daily volume of 695,475 shares. The stock had previously closed at $9.22.

Wall Street Analysts Forecast Growth

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

Titan International Stock Performance

The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 2.26. The company has a market cap of $660.57 million, a PE ratio of -48.87 and a beta of 1.95. The company's 50 day moving average price is $7.78 and its 200-day moving average price is $7.84.

Titan International (NYSE:TWI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $490.71 million for the quarter, compared to the consensus estimate of $466.86 million. Titan International had a negative net margin of 0.83% and a negative return on equity of 0.05%. Equities research analysts anticipate 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, CAO Anthony Eheli sold 25,000 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $9.24, for a total transaction of $231,000.00. Following the sale, the chief accounting officer now directly owns 45,276 shares of the company's stock, valued at $418,350.24. This represents a 35.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 25.00% of the stock is currently owned by insiders.

Institutional Trading of Titan International

A number of institutional investors have recently modified their holdings of TWI. Renaissance Technologies LLC grew its stake in 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 in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Titan International by 21.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,953,866 shares of the industrial products company's stock worth $13,267,000 after acquiring an additional 344,658 shares during the period. Geode Capital Management LLC grew its position in shares of Titan International by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,138,329 shares of the industrial products company's stock valued at $7,732,000 after purchasing an additional 5,940 shares in the last quarter. EVR Research LP bought a new stake in shares of Titan International during the 1st quarter valued at $9,229,000. Finally, Royce & Associates LP lifted its holdings in Titan International by 1,059.1% during the 1st quarter. Royce & Associates LP now owns 918,114 shares of the industrial products company's stock worth $7,703,000 after purchasing an additional 838,902 shares in the last quarter. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

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.