Titan International (TWI) Upgraded to Strong-Buy at Zacks Investment Research
Titan International (NYSE:TWI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday. The firm presently has a $8.75 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 20.86% from the stock’s current price.
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. “
A number of other equities research analysts also recently commented on TWI. ValuEngine downgraded Titan International from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 24th. TheStreet downgraded Titan International from a “c” rating to a “d+” rating in a report on Thursday, August 23rd. William Blair downgraded Titan International from an “outperform” rating to a “market perform” rating and set a $21.00 price objective for the company. in a report on Friday, August 3rd. Finally, Jefferies Financial Group dropped their price objective on Titan International from $12.00 to $8.50 and set a “hold” rating for the company in a report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $12.75.
Titan International (NYSE:TWI) last released its quarterly earnings data on Friday, November 2nd. The industrial products company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $384.70 million during the quarter, compared to the consensus estimate of $398.71 million. Titan International had a positive return on equity of 4.56% and a negative net margin of 1.06%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) earnings per share. On average, equities research analysts predict that Titan International will post 0.25 EPS for the current year.
A number of large investors have recently bought and sold shares of the business. UBS Group AG grew its stake in Titan International by 30.1% in the first quarter. UBS Group AG now owns 20,559 shares of the industrial products company’s stock valued at $259,000 after acquiring an additional 4,752 shares during the period. New Jersey Better Educational Savings Trust grew its stake in Titan International by 37.5% in the second quarter. New Jersey Better Educational Savings Trust now owns 22,000 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 6,000 shares during the period. NJ State Employees Deferred Compensation Plan grew its stake in Titan International by 9.1% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 72,000 shares of the industrial products company’s stock valued at $773,000 after acquiring an additional 6,000 shares during the period. Principal Financial Group Inc. grew its stake in Titan International by 2.6% in the first quarter. Principal Financial Group Inc. now owns 380,505 shares of the industrial products company’s stock valued at $4,798,000 after acquiring an additional 9,632 shares during the period. Finally, Grace & White Inc. NY grew its stake in Titan International by 3.5% in the third quarter. Grace & White Inc. NY now owns 301,917 shares of the industrial products company’s stock valued at $2,240,000 after acquiring an additional 10,285 shares during the period. 86.61% of the stock is owned by hedge funds and other institutional investors.
Titan International Company Profile
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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