Titan International (TWI) Rating Increased to Buy at Zacks Investment Research

Titan International (NYSE:TWI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm currently has a $6.75 target price on the industrial products company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.75% from the stock’s previous close.

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. “

Separately, ValuEngine raised Titan International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $12.08.

Shares of NYSE:TWI traded up $0.09 during midday trading on Friday, hitting $6.04. The company’s stock had a trading volume of 283,554 shares, compared to its average volume of 481,388. The company has a market cap of $352.91 million, a P/E ratio of -12.33 and a beta of 1.60. Titan International has a fifty-two week low of $4.49 and a fifty-two week high of $14.53. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.11 and a current ratio of 2.11.

Titan International (NYSE:TWI) last issued its quarterly earnings results on Friday, November 2nd. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The company had revenue of $384.70 million for 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% compared to the same quarter last year. During the same period last year, the business posted ($0.09) earnings per share. As a group, equities analysts predict that Titan International will post 0.25 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Paloma Partners Management Co acquired a new stake in Titan International during the second quarter worth about $149,000. Point72 Asset Management L.P. acquired a new stake in Titan International during the third quarter worth about $111,000. SG Americas Securities LLC acquired a new stake in Titan International during the second quarter worth about $189,000. PNC Financial Services Group Inc. grew its position in Titan International by 3,853.9% during the third quarter. PNC Financial Services Group Inc. now owns 18,425 shares of the industrial products company’s stock worth $137,000 after buying an additional 17,959 shares in the last quarter. Finally, Zacks Investment Management acquired a new stake in Titan International during the second quarter worth about $242,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

About Titan International

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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