Zacks Investment Research Downgrades Titan International, Inc. (TWI) to Sell

Zacks Investment Research cut shares of Titan International, Inc. (NYSE:TWI) from a hold rating to a sell rating in a report published on Wednesday, August 9th.

According to Zacks, “Titan International, Inc. is a global manufacturer of off-highway steel wheels and tires in the agricultural, earthmoving/construction and consumer markets. Titan generally manufactures both wheels and tires for these markets and provides the value-added service of assembling the completed wheel-tire system. They offer a broad range of different products that are manufactured in relatively short production runs to meet original equipment manufacturers’ specifications and/or aftermarket customer requirements. “

Other equities analysts have also issued research reports about the company. Sidoti raised Titan International from a neutral rating to a buy rating in a report on Tuesday, April 18th. BidaskClub raised Titan International from a hold rating to a buy rating in a report on Wednesday, August 2nd. TheStreet raised Titan International from a d+ rating to a c- rating in a report on Friday, June 30th. Finally, Jefferies Group LLC reissued an underperform rating and set a $14.00 price target (up previously from $11.50) on shares of Titan International in a report on Friday, April 14th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $14.00.

Shares of Titan International (NYSE:TWI) opened at 8.50 on Wednesday. Titan International has a 1-year low of $8.21 and a 1-year high of $14.23. The firm’s 50-day moving average price is $11.43 and its 200 day moving average price is $11.36. The stock’s market cap is $507.45 million.

Titan International (NYSE:TWI) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by $0.18. The firm had revenue of $364.40 million for the quarter, compared to analysts’ expectations of $352.13 million. Titan International had a negative return on equity of 10.79% and a negative net margin of 3.23%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) EPS. On average, equities analysts expect that Titan International will post ($0.26) earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in Titan International by 94.8% in the second quarter. State of Alaska Department of Revenue now owns 9,447 shares of the industrial products company’s stock worth $113,000 after buying an additional 4,597 shares in the last quarter. Mason Street Advisors LLC raised its position in Titan International by 17.7% in the first quarter. Mason Street Advisors LLC now owns 11,264 shares of the industrial products company’s stock worth $116,000 after buying an additional 1,696 shares in the last quarter. Stifel Financial Corp raised its position in Titan International by 0.9% in the first quarter. Stifel Financial Corp now owns 11,363 shares of the industrial products company’s stock worth $119,000 after buying an additional 104 shares in the last quarter. Stokes & Hubbell Capital Management LLC acquired a new stake in shares of Titan International during the first quarter worth $124,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Titan International during the second quarter worth $125,000. 85.73% of the stock is currently owned by hedge funds and other institutional investors.

Titan International Company Profile

Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.

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