Titan International’s (TWI) “Buy” Rating Reiterated at DA Davidson

Titan International (NYSE:TWI)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a note issued to investors on Friday,Benzinga reports. They presently have a $13.00 target price on the industrial products company’s stock. DA Davidson’s price target would suggest a potential upside of 68.18% from the stock’s previous close.

Other analysts also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Titan International in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Titan International from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Titan International presently has a consensus rating of “Hold” and an average price target of $13.00.

Titan International Price Performance

TWI traded up $0.34 during trading on Friday, hitting $7.73. 81,944 shares of the stock traded hands, compared to its average volume of 828,131. Titan International has a twelve month low of $6.43 and a twelve month high of $11.70. The company has a market cap of $497.58 million, a price-to-earnings ratio of -5.64 and a beta of 1.45. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.19 and a quick ratio of 1.22. The business has a 50 day moving average price of $7.72 and a 200 day moving average price of $8.38.

Titan International (NYSE:TWI) last issued its earnings results on Thursday, April 30th. The industrial products company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.39). Titan International had a negative net margin of 4.72% and a negative return on equity of 3.00%. The business had revenue of $505.07 million during the quarter, compared to analyst estimates of $497.23 million. Equities research analysts forecast that Titan International will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of Titan International

Several institutional investors have recently added to or reduced their stakes in the stock. Villanova Investment Management Co LLC boosted its holdings in shares of Titan International by 28.4% during the 3rd quarter. Villanova Investment Management Co LLC now owns 213,165 shares of the industrial products company’s stock worth $1,612,000 after buying an additional 47,153 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Titan International by 11.3% during the third quarter. Victory Capital Management Inc. now owns 1,649,715 shares of the industrial products company’s stock valued at $12,472,000 after acquiring an additional 167,032 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Titan International during the 3rd quarter worth $544,000. Donald Smith & CO. Inc. increased its stake in shares of Titan International by 59.1% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,491,649 shares of the industrial products company’s stock worth $27,340,000 after purchasing an additional 1,297,542 shares during the last quarter. Finally, UBS Group AG increased its holdings in Titan International by 26.7% in the 4th quarter. UBS Group AG now owns 330,894 shares of the industrial products company’s stock worth $2,591,000 after acquiring an additional 69,785 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

About Titan International

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.