Titan International (NYSE:TWI) Shares Down 8.2% – Here’s What Happened

Shares of Titan International, Inc. (NYSE:TWI) dropped 8.2% during mid-day trading on Thursday . The stock traded as low as $7.88 and last traded at $8.02. Approximately 1,235,574 shares were traded during trading, an increase of 75% from the average daily volume of 706,149 shares. The stock had previously closed at $8.73.

Wall Street Analysts Forecast Growth

TWI has been the subject of several research reports. DA Davidson initiated coverage on shares of Titan International in a research report on Friday, December 13th. They set a “buy” rating and a $11.00 price objective for the company. StockNews.com upgraded shares of Titan International from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th.

Titan International Trading Up 7.5 %

The company has a debt-to-equity ratio of 0.84, a current ratio of 2.38 and a quick ratio of 1.33. The business’s 50-day moving average price is $7.92 and its two-hundred day moving average price is $7.67. The company has a market capitalization of $537.63 million, a price-to-earnings ratio of -70.96 and a beta of 1.82.

Institutional Investors Weigh In On Titan International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Villanova Investment Management Co LLC acquired a new stake in shares of Titan International in the third quarter valued at approximately $1,110,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Titan International in the fourth quarter valued at approximately $193,000. Victory Capital Management Inc. increased its stake in Titan International by 31.9% in the third quarter. Victory Capital Management Inc. now owns 1,609,208 shares of the industrial products company’s stock valued at $13,083,000 after acquiring an additional 388,864 shares during the last quarter. Barclays PLC increased its stake in Titan International by 207.1% in the third quarter. Barclays PLC now owns 107,669 shares of the industrial products company’s stock valued at $877,000 after acquiring an additional 72,612 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Titan International by 136.2% in the fourth quarter. GAMMA Investing LLC now owns 5,431 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 3,132 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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.