Titan International (TWI) Issues Earnings Results
Titan International (NYSE:TWI) announced its earnings results on Friday. The industrial products company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.03, Bloomberg Earnings reports. The business had revenue of $376.03 million during the quarter, compared to the consensus estimate of $364.77 million. Titan International had a negative net margin of 3.19% and a negative return on equity of 9.22%. The firm’s revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.25) earnings per share.
Shares of Titan International (NYSE TWI) traded up $2.20 during midday trading on Friday, reaching $14.15. The company had a trading volume of 895,109 shares, compared to its average volume of 276,156. Titan International has a 52-week low of $7.97 and a 52-week high of $14.31. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.28 and a current ratio of 2.22.
In other news, CFO James M. Froisland bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were purchased at an average price of $11.65 per share, for a total transaction of $58,250.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at $58,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.80% of the stock is owned by corporate insiders.
A number of brokerages have recently weighed in on TWI. Zacks Investment Research lowered Titan International from a “hold” rating to a “sell” rating in a research note on Friday. Jefferies Group restated a “hold” rating and set a $12.00 price target on shares of Titan International in a research note on Sunday, November 5th. ValuEngine upgraded Titan International from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. William Blair restated an “outperform” rating on shares of Titan International in a research note on Friday. 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 assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $12.00.
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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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