Titan International Inc. (NYSE:TWI) had its target price raised by stock analysts at Jefferies Group from $8.00 to $11.50 in a research note issued to investors on Tuesday. The firm presently has a “hold” rating on the stock. Jefferies Group’s target price would indicate a potential upside of 10.36% from the stock’s previous close.
Separately, Zacks Investment Research upgraded Titan International from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Thursday, October 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $10.13.
Titan International (NYSE:TWI) opened at 10.42 on Tuesday. Titan International has a 12-month low of $2.50 and a 12-month high of $10.49. The stock’s market cap is $563.16 million. The stock’s 50 day moving average price is $9.45 and its 200 day moving average price is $7.34.
Titan International (NYSE:TWI) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). Titan International had a negative return on equity of 17.71% and a negative net margin of 8.44%. The business had revenue of $330.20 million for the quarter, compared to the consensus estimate of $330.92 million. During the same period in the prior year, the business earned $0.02 earnings per share. The business’s revenue was down 12.2% on a year-over-year basis. Analysts forecast that Titan International will post ($0.48) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.005 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.02 annualized dividend and a yield of 0.19%. Titan International’s dividend payout ratio is presently -0.91%.
Large investors have recently made changes to their positions in the company. Hartford Investment Management Co. purchased a new stake in shares of Titan International during the second quarter valued at approximately $105,000. Mount Vernon Associates Inc. MD raised its stake in shares of Titan International by 2.3% in the second quarter. Mount Vernon Associates Inc. MD now owns 18,100 shares of the company’s stock valued at $112,000 after buying an additional 400 shares in the last quarter. Keane Capital Partners LLC purchased a new stake in shares of Titan International during the second quarter valued at approximately $118,000. HighTower Advisors LLC raised its stake in shares of Titan International by 4.5% in the second quarter. HighTower Advisors LLC now owns 20,775 shares of the company’s stock valued at $128,000 after buying an additional 900 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Titan International by 6.2% in the second quarter. Thrivent Financial for Lutherans now owns 21,100 shares of the company’s stock valued at $131,000 after buying an additional 1,240 shares in the last quarter. Institutional investors own 77.10% of the company’s stock.
About Titan International
Titan International, Inc is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment.
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