Titan International (NYSE:TWI) Posts Earnings Results, Beats Estimates By $0.14 EPS

Titan International (NYSE:TWI) announced its earnings results on Wednesday. The industrial products company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.14, FiscalAI reports. The firm had revenue of $484.77 million for the quarter, compared to analysts’ expectations of $480.06 million. Titan International had a negative return on equity of 3.00% and a negative net margin of 4.72%.

Titan International Price Performance

NYSE:TWI traded down $0.33 during trading hours on Thursday, reaching $7.32. 586,894 shares of the company’s stock were exchanged, compared to its average volume of 764,151. The company has a quick ratio of 1.22, a current ratio of 2.19 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $471.12 million, a P/E ratio of -5.34 and a beta of 1.45. Titan International has a 12 month low of $6.43 and a 12 month high of $11.70. The business’s 50-day simple moving average is $7.53 and its two-hundred day simple moving average is $8.25.

Institutional Investors Weigh In On Titan International

A number of institutional investors and hedge funds have recently modified their holdings of TWI. Quarry LP acquired a new position in shares of Titan International in the 3rd quarter worth $27,000. Russell Investments Group Ltd. lifted its holdings in shares of Titan International by 22,000.0% during the third quarter. Russell Investments Group Ltd. now owns 4,199 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 4,180 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Titan International during the second quarter valued at $46,000. Tower Research Capital LLC TRC lifted its holdings in shares of Titan International by 191.7% during the second quarter. Tower Research Capital LLC TRC now owns 5,189 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 3,410 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Titan International by 2,953.5% in the 2nd quarter. Osaic Holdings Inc. now owns 7,817 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 7,561 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TWI shares. DA Davidson reiterated a “buy” rating and set a $13.00 price target on shares of Titan International in a research report on Friday, June 12th. Wall Street Zen raised Titan International from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Titan International in a report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.00.

About Titan International

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel?and?tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.