Titan International (TWI) Reaches New 52-Week Low at $6.11

Shares of Titan International Inc (NYSE:TWI) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $6.11 and last traded at $6.28, with a volume of 9111 shares trading hands. The stock had previously closed at $6.23.

Several analysts have recently issued reports on TWI shares. Zacks Investment Research upgraded Titan International from a “strong sell” rating to a “hold” rating in a research note on Friday, October 12th. ValuEngine upgraded Titan International from a “strong sell” rating to a “sell” rating in a research note on Friday, August 24th. Jefferies Financial Group reduced their price objective on Titan International from $12.00 to $8.50 and set a “hold” rating on the stock in a research note on Tuesday, August 7th. TheStreet cut Titan International from a “c” rating to a “d+” rating in a research note on Thursday, August 23rd. Finally, William Blair cut Titan International from an “outperform” rating to a “market perform” rating and set a $21.00 price objective on the stock. in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company. Titan International has a consensus rating of “Hold” and an average target price of $12.75.

The company has a market cap of $373.28 million, a PE ratio of -12.66 and a beta of 1.46. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.11 and a quick ratio of 1.11.

Titan International (NYSE:TWI) last announced its quarterly earnings data on Friday, November 2nd. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $384.70 million for the quarter, compared to analysts’ expectations of $398.71 million. Titan International had a positive return on equity of 4.56% and a negative net margin of 1.06%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) earnings per share. Research analysts expect that Titan International Inc will post 0.25 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Titan International in the second quarter valued at $113,000. Paloma Partners Management Co acquired a new stake in Titan International in the second quarter valued at $149,000. Point72 Asset Management L.P. acquired a new stake in Titan International in the third quarter valued at $111,000. SG Americas Securities LLC acquired a new stake in Titan International in the second quarter valued at $189,000. Finally, PNC Financial Services Group Inc. raised its stake in Titan International by 3,853.9% in the third quarter. PNC Financial Services Group Inc. now owns 18,425 shares of the industrial products company’s stock valued at $137,000 after buying an additional 17,959 shares in the last quarter. Institutional investors and hedge funds own 84.34% of the company’s stock.

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About Titan International (NYSE:TWI)

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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