DA Davidson Issues Pessimistic Forecast for Titan International (NYSE:TWI) Stock Price

Titan International (NYSE:TWI) had its target price decreased by investment analysts at DA Davidson from $13.00 to $10.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. DA Davidson‘s price objective points to a potential upside of 103.05% from the stock’s current price.

TWI has been the topic of a number of other reports. Wall Street Zen downgraded shares of Titan International from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Titan International in a research report on Friday, October 16th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Titan International presently has a consensus rating of “Hold” and an average target price of $10.00.

Titan International Stock Performance

Shares of NYSE TWI traded up $0.28 during mid-day trading on Monday, hitting $4.92. The company had a trading volume of 206,713 shares, compared to its average volume of 725,713. The company has a current ratio of 2.16, a quick ratio of 1.52 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $318.20 million, a price-to-earnings ratio of -2.69 and a beta of 1.53. Titan International has a 1 year low of $4.58 and a 1 year high of $11.70. The stock’s 50-day moving average price is $6.98 and its 200-day moving average price is $7.83.

Titan International (NYSE:TWI) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $335.18 million for the quarter, compared to the consensus estimate of $448.82 million. Titan International had a negative net margin of 6.76% and a negative return on equity of 2.54%. On average, sell-side analysts forecast that Titan International will post -0.12 earnings per share for the current year.

Institutional Trading of Titan International

Several institutional investors have recently added to or reduced their stakes in TWI. Grace & White Inc. NY boosted its holdings in Titan International by 16.6% during the 3rd quarter. Grace & White Inc. NY now owns 438,228 shares of the industrial products company’s stock valued at $2,971,000 after acquiring an additional 62,500 shares during the period. SummerHaven Investment Management LLC bought a new stake in Titan International in the third quarter valued at approximately $726,000. Engineers Gate Manager LP bought a new stake in Titan International in the second quarter valued at approximately $225,000. Squarepoint Ops LLC bought a new stake in Titan International in the second quarter valued at approximately $1,211,000. Finally, HighTower Advisors LLC boosted its stake in shares of Titan International by 18.6% during the second quarter. HighTower Advisors LLC now owns 50,271 shares of the industrial products company’s stock valued at $388,000 after purchasing an additional 7,892 shares during the period. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

About Titan International

Titan International, Inc (NYSE:TWI) designs, manufactures and sells wheels, tires and undercarriage systems for off-highway vehicles and equipment. Its products are used in agricultural, construction, earthmoving, mining and other industrial applications, with offerings that include specialized tires, wheels, wheel assemblies, tracks and related components.

The company serves original equipment manufacturers and replacement, or aftermarket, customers. Its products are used on tractors, combines, planting and harvesting equipment, loaders, graders, haulage vehicles and other heavy-duty machinery.