ValuEngine Upgrades Titan International (NYSE:TWI) to “Buy”

Titan International (NYSE:TWI) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday, ValuEngine reports.

NYSE TWI opened at $3.64 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. Titan International has a 1-year low of $2.25 and a 1-year high of $7.25. The company has a 50 day moving average of $3.40 and a 200-day moving average of $3.21. The company has a market cap of $209.80 million, a price-to-earnings ratio of 13.48 and a beta of 2.27.

Titan International (NYSE:TWI) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). Titan International had a negative net margin of 2.53% and a negative return on equity of 12.51%. The business had revenue of $345.90 million during the quarter, compared to analyst estimates of $369.33 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. On average, equities research analysts forecast that Titan International will post -0.45 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in shares of Titan International by 47.6% in the third quarter. Public Employees Retirement System of Ohio now owns 12,016 shares of the industrial products company’s stock valued at $32,000 after buying an additional 3,876 shares in the last quarter. State Street Corp increased its stake in Titan International by 0.7% in the third quarter. State Street Corp now owns 1,452,259 shares of the industrial products company’s stock valued at $3,928,000 after acquiring an additional 9,455 shares during the last quarter. SG Americas Securities LLC bought a new position in Titan International in the third quarter valued at approximately $27,000. Russell Investments Group Ltd. increased its stake in Titan International by 22.9% in the third quarter. Russell Investments Group Ltd. now owns 66,712 shares of the industrial products company’s stock valued at $180,000 after acquiring an additional 12,412 shares during the last quarter. Finally, Clear Harbor Asset Management LLC increased its stake in Titan International by 8.5% in the third quarter. Clear Harbor Asset Management LLC now owns 183,525 shares of the industrial products company’s stock valued at $496,000 after acquiring an additional 14,345 shares during the last quarter. Institutional investors own 83.57% of the company’s stock.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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