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

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

Analyst Upgrades and Downgrades

TWI has been the topic of several analyst reports. Noble Financial initiated coverage on Titan International in a research report on Wednesday, June 4th. They set an "outperform" rating and a $11.00 price target on the stock. Cantor Fitzgerald initiated coverage on Titan International in a research report on Thursday, March 20th. They set an "overweight" rating and a $11.00 price target on the stock. Finally, Wall Street Zen raised Titan International from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th.

Titan International Price Performance

The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $664.71 million, a price-to-earnings ratio of 1,043.00 and a beta of 1.95. The stock has a 50-day moving average price of $7.85 and a 200 day moving average price of $7.86.

Titan International (NYSE:TWI - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). Titan International had a negative net margin of 0.83% and a negative return on equity of 0.05%. The business had revenue of $490.71 million for the quarter, compared to analyst estimates of $466.86 million. As a group, equities research analysts expect that Titan International, Inc. will post 0.03 earnings per share for the current year.

Insider Activity

In related news, CAO Anthony Eheli sold 25,000 shares of Titan International stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $9.24, for a total value of $231,000.00. Following the sale, the chief accounting officer now directly owns 45,276 shares in the company, valued at approximately $418,350.24. The trade was a 35.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 32.50% of the company's stock.

Institutional Investors Weigh In On Titan International

Several institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Titan International by 4.4% in 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. Principal Financial Group Inc. lifted its stake in Titan International by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 232,819 shares of the industrial products company's stock worth $1,581,000 after purchasing an additional 1,464 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Titan International by 1.5% in 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. Hsbc Holdings PLC lifted its stake in Titan International by 25.4% in 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 lifted its stake in Titan International by 14.1% in 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 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.