Titan International (NYSE:TWI) Trading 12.9% Higher – Time to Buy?

Shares of Titan International, Inc. (NYSE:TWI) rose 12.9% during mid-day trading on Monday . The stock traded as high as $8.84 and last traded at $9.16. Approximately 68,748 shares changed hands during trading, a decline of 90% from the average daily volume of 714,743 shares. The stock had previously closed at $8.11.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Cantor Fitzgerald began coverage on shares of Titan International in a research note on Thursday, March 20th. They set an “overweight” rating and a $11.00 price objective on the stock. Wall Street Zen raised Titan International from a “sell” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Noble Financial assumed coverage on Titan International in a report on Wednesday, June 4th. They issued an “outperform” rating and a $11.00 price target for the company.

Titan International Stock Performance

The stock’s 50 day moving average is $7.14 and its two-hundred day moving average is $7.67. The firm has a market capitalization of $591.81 million, a P/E ratio of -77.25 and a beta of 1.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.38 and a quick ratio of 1.33.

Titan International (NYSE:TWI) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $490.71 million during the quarter, compared to the consensus estimate of $466.86 million. Titan International had a negative net margin of 0.51% and a positive return on equity of 5.76%. As a group, equities analysts anticipate that Titan International, Inc. will post 0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group raised its position in shares of Titan International by 1,286.4% during the first quarter. Brooklyn Investment Group now owns 5,934 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 5,506 shares during the period. KLP Kapitalforvaltning AS bought a new position in Titan International in the fourth quarter valued at approximately $54,000. Mraz Amerine & Associates Inc. bought a new position in Titan International in the fourth quarter valued at approximately $74,000. First Trust Advisors LP acquired a new position in shares of Titan International in the fourth quarter valued at approximately $74,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Titan International during the fourth quarter worth $74,000. 80.39% of the stock is currently owned by institutional investors.

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 the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.