Titan International (TWI) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Titan International (NYSE:TWI) from a hold rating to a buy rating in a report released on Wednesday. Zacks Investment Research currently has $16.00 price target on the industrial products company’s stock.
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. “
Several other research firms have also recently commented on TWI. William Blair reaffirmed an outperform rating on shares of Titan International in a research report on Friday, February 23rd. TheStreet raised Titan International from a d+ rating to a c- rating in a research report on Monday, November 6th. Jefferies Group reaffirmed a hold rating and set a $12.00 price objective on shares of Titan International in a research report on Sunday, November 5th. Finally, ValuEngine raised Titan International from a sell rating to a hold rating in a research report on Thursday, November 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $14.00.
Titan International (NYSE:TWI) last released its quarterly earnings data on Friday, February 23rd. The industrial products company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03. Titan International had a negative return on equity of 6.94% and a negative net margin of 4.31%. The company had revenue of $376.03 million for the quarter, compared to analysts’ expectations of $364.77 million. During the same period last year, the firm posted ($0.25) earnings per share. Titan International’s revenue was up 22.4% compared to the same quarter last year. research analysts predict that Titan International will post 0.35 EPS for the current fiscal year.
In other news, CFO James M. Froisland bought 5,000 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were acquired at an average cost of $11.65 per share, with a total value of $58,250.00. Following the completion of the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $58,250. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 17.80% of the company’s stock.
Large investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. purchased a new position in Titan International in the fourth quarter worth about $135,000. Crossmark Global Holdings Inc. purchased a new position in Titan International in the fourth quarter worth about $216,000. Teacher Retirement System of Texas purchased a new position in Titan International in the fourth quarter worth about $223,000. BNP Paribas Arbitrage SA boosted its position in Titan International by 40.4% in the third quarter. BNP Paribas Arbitrage SA now owns 27,304 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 7,862 shares during the last quarter. Finally, Voya Investment Management LLC boosted its position in Titan International by 10.3% in the second quarter. Voya Investment Management LLC now owns 24,230 shares of the industrial products company’s stock worth $291,000 after purchasing an additional 2,266 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.
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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