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

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

Titan International Stock Performance

Shares of Titan International stock traded down $0.33 on Thursday, hitting $7.32. The stock had a trading volume of 586,894 shares, compared to its average volume of 764,151. The stock has a market cap of $471.12 million, a price-to-earnings ratio of -5.34 and a beta of 1.45. The business’s 50 day moving average is $7.53 and its two-hundred day moving average is $8.25. The company has a quick ratio of 1.22, a current ratio of 2.19 and a debt-to-equity ratio of 1.15. Titan International has a twelve month low of $6.43 and a twelve month high of $11.70.

Hedge Funds Weigh In On Titan International

Several institutional investors and hedge funds have recently modified their holdings of TWI. Invesco Ltd. raised its stake in Titan International by 85.1% in the 4th quarter. Invesco Ltd. now owns 1,579,219 shares of the industrial products company’s stock worth $12,365,000 after purchasing an additional 725,926 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Titan International by 20.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,198,692 shares of the industrial products company’s stock worth $9,386,000 after buying an additional 207,425 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Titan International by 92.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,106 shares of the industrial products company’s stock worth $3,109,000 after acquiring an additional 190,264 shares during the period. Two Sigma Investments LP raised its holdings in Titan International by 69.9% in the 3rd quarter. Two Sigma Investments LP now owns 452,317 shares of the industrial products company’s stock valued at $3,420,000 after acquiring an additional 186,048 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Titan International by 35.1% in the second quarter. Bank of America Corp DE now owns 584,390 shares of the industrial products company’s stock valued at $6,002,000 after purchasing an additional 151,888 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TWI shares. DA Davidson reaffirmed a “buy” rating and issued a $13.00 target price 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 report on Sunday, May 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Titan International in a research note on Monday, July 20th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.