Zacks Investment Research upgraded shares of Titan International (NYSE:TWI) from a sell rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

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. “

TWI has been the subject of a number of other reports. Sidoti set a $10.00 target price on Titan International and gave the company a buy rating in a research report on Wednesday, February 20th. TheStreet raised Titan International from a d+ rating to a c- rating in a research report on Tuesday, March 5th. Finally, ValuEngine lowered Titan International from a sell rating to a strong sell rating in a research report on Friday, January 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $11.44.

Shares of NYSE TWI opened at $4.48 on Tuesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.91 and a quick ratio of 0.97. The firm has a market cap of $275.40 million, a price-to-earnings ratio of 16.59 and a beta of 1.75. Titan International has a twelve month low of $4.35 and a twelve month high of $12.08.

Titan International (NYSE:TWI) last issued its earnings results on Friday, May 3rd. The industrial products company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.13). The firm had revenue of $410.40 million for the quarter, compared to the consensus estimate of $429.30 million. Titan International had a negative net margin of 0.77% and a negative return on equity of 2.44%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. Research analysts expect that Titan International will post 0.37 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in TWI. Rutabaga Capital Management LLC MA purchased a new position in shares of Titan International in the 1st quarter valued at $5,997,000. Morgan Stanley increased its holdings in shares of Titan International by 210.2% in the 1st quarter. Morgan Stanley now owns 589,716 shares of the industrial products company’s stock valued at $3,521,000 after acquiring an additional 399,636 shares during the period. IndexIQ Advisors LLC increased its holdings in shares of Titan International by 1,955.4% in the 1st quarter. IndexIQ Advisors LLC now owns 268,273 shares of the industrial products company’s stock valued at $1,602,000 after acquiring an additional 255,221 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Titan International by 1,129.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 263,022 shares of the industrial products company’s stock valued at $1,570,000 after acquiring an additional 241,622 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Titan International by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,586,438 shares of the industrial products company’s stock valued at $27,381,000 after acquiring an additional 234,746 shares during the period. Institutional investors and hedge funds own 83.52% of the company’s stock.

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 North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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