Titan International (NYSE:TWI) Cut to Strong Sell at ValuEngine

ValuEngine downgraded shares of Titan International (NYSE:TWI) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday, September 12th.

Several other research firms have also commented on TWI. TheStreet lowered shares of Titan International from a c rating to a d+ rating in a research note on Thursday, August 23rd. Zacks Investment Research lowered shares of Titan International from a hold rating to a strong sell rating in a research note on Thursday, August 9th. William Blair lowered shares of Titan International from an outperform rating to a market perform rating and set a $21.00 price objective for the company. in a research note on Friday, August 3rd. Finally, Jefferies Financial Group decreased their price objective on shares of Titan International from $12.00 to $8.50 and set a hold rating for the company in a research note on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company currently has a consensus rating of Hold and an average price target of $14.50.

Shares of TWI traded down $0.17 on Wednesday, reaching $7.41. The company’s stock had a trading volume of 217,574 shares, compared to its average volume of 321,492. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.05 and a quick ratio of 1.14. Titan International has a twelve month low of $6.71 and a twelve month high of $14.53. The firm has a market capitalization of $444.44 million, a PE ratio of -15.12 and a beta of 1.52.

Titan International (NYSE:TWI) last posted its quarterly earnings data on Friday, August 3rd. The industrial products company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.16). The firm had revenue of $428.90 million during the quarter, compared to analysts’ expectations of $427.32 million. Titan International had a negative net margin of 1.47% and a positive return on equity of 3.38%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) EPS. As a group, analysts expect that Titan International will post 0.23 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Thursday, September 27th. Titan International’s dividend payout ratio is currently -4.08%.

In related news, CFO David A. Martin bought 20,000 shares of Titan International stock in a transaction dated Wednesday, August 8th. The stock was purchased at an average cost of $7.21 per share, with a total value of $144,200.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Maurice M. Taylor, Jr. bought 100,000 shares of Titan International stock in a transaction dated Tuesday, August 7th. The shares were bought at an average cost of $7.20 per share, with a total value of $720,000.00. Following the completion of the transaction, the director now directly owns 549,870 shares in the company, valued at $3,959,064. The disclosure for this purchase can be found here. 17.30% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. UBS Group AG boosted its holdings in Titan International by 30.1% in the 1st quarter. UBS Group AG now owns 20,559 shares of the industrial products company’s stock worth $259,000 after buying an additional 4,752 shares during the period. New Jersey Better Educational Savings Trust boosted its holdings in Titan International by 37.5% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 22,000 shares of the industrial products company’s stock worth $236,000 after buying an additional 6,000 shares during the period. NJ State Employees Deferred Compensation Plan boosted its holdings in Titan International by 9.1% in the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 72,000 shares of the industrial products company’s stock worth $773,000 after buying an additional 6,000 shares during the period. Principal Financial Group Inc. boosted its holdings in Titan International by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 380,505 shares of the industrial products company’s stock worth $4,798,000 after buying an additional 9,632 shares during the period. Finally, Bayesian Capital Management LP bought a new position in Titan International in the 1st quarter worth approximately $130,000. 86.41% of the stock is owned by hedge funds and other institutional investors.

Titan International Company Profile

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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