Titan International (TWI) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Titan International (NYSE:TWI) from a hold rating to a sell rating in a report issued on Tuesday morning.

According to Zacks, “Titan International, Inc. is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. The company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. “

A number of other brokerages have also recently weighed in on TWI. ValuEngine upgraded Titan International from a sell rating to a hold rating in a research report on Thursday, November 2nd. Jefferies Group reiterated a hold rating and issued a $12.00 price target on shares of Titan International in a research report on Sunday, November 5th. Finally, TheStreet upgraded Titan International from a d+ rating to a c- rating in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Titan International has an average rating of Hold and an average price target of $12.00.

Shares of Titan International (TWI) opened at $11.91 on Tuesday. Titan International has a 1 year low of $7.97 and a 1 year high of $14.31. The company has a quick ratio of 1.28, a current ratio of 2.22 and a debt-to-equity ratio of 1.17.

In other Titan International news, CFO James M. Froisland bought 5,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were bought at an average price of $11.65 per share, for a total transaction of $58,250.00. Following the completion of the acquisition, the chief financial officer now owns 5,000 shares of the company’s stock, valued at $58,250. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC bought a new stake in shares of Titan International during the fourth quarter worth $292,000. Municipal Employees Retirement System of Michigan grew its holdings in shares of Titan International by 20.3% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 124,490 shares of the industrial products company’s stock worth $1,603,000 after purchasing an additional 21,050 shares during the last quarter. Quad Capital Management Advisors LLC bought a new stake in shares of Titan International during the fourth quarter worth $394,000. Goldman Sachs Group Inc. grew its holdings in shares of Titan International by 12.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 141,175 shares of the industrial products company’s stock worth $1,818,000 after purchasing an additional 15,547 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Titan International by 426.7% during the fourth quarter. Guggenheim Capital LLC now owns 84,310 shares of the industrial products company’s stock worth $1,086,000 after purchasing an additional 68,304 shares during the last quarter. Institutional investors own 86.67% of the company’s stock.

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About Titan International

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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