The Titan International Inc. (TWI) Hits New 52-Week High on Analyst Upgrade

The Titan International Inc. (TWI) Hits New 52-Week High on Analyst Upgrade

Titan International Inc. (NYSE:TWI)’s share price reached a new 52-week high during trading on Wednesday after Jefferies Group raised their price target on the stock from $8.00 to $11.50. Jefferies Group currently has a hold rating on the stock. Titan International traded as high as $10.49 and last traded at $10.42, with a volume of 164,669 shares trading hands. The stock had previously closed at $10.32.

Separately, Zacks Investment Research raised shares of Titan International from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $10.13.

Several large investors have recently made changes to their positions in the company. Hartford Investment Management Co. bought a new stake in shares of Titan International during the second quarter valued at about $105,000. Mount Vernon Associates Inc. MD increased 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 during the last quarter. Keane Capital Partners LLC bought a new stake in shares of Titan International during the second quarter valued at about $118,000. HighTower Advisors LLC increased 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 during the last quarter. Finally, Thrivent Financial for Lutherans increased 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 during the last quarter. Institutional investors and hedge funds own 77.10% of the company’s stock.

The company’s market cap is $563.16 million. The stock has a 50 day moving average of $9.48 and a 200 day moving average of $7.36.

Titan International (NYSE:TWI) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). Titan International had a negative return on equity of 17.71% and a negative net margin of 8.44%. The firm earned $330.20 million during the quarter, compared to the consensus estimate of $330.92 million. During the same quarter in the prior year, the firm posted $0.02 EPS. The business’s revenue was down 12.2% on a year-over-year basis. Analysts expect that Titan International Inc. will post ($0.48) EPS for the current 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 given a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Wednesday, September 28th. Titan International’s dividend payout ratio (DPR) is currently -0.91%.

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