Titan International (NYSE:TWI) Stock Price Up 8.2% – Should You Buy?

Titan International, Inc. (NYSE:TWI)’s stock price was up 8.2% during mid-day trading on Friday . The company traded as high as $6.99 and last traded at $6.97. Approximately 216,410 shares changed hands during trading, a decline of 57% from the average daily volume of 504,737 shares. The stock had previously closed at $6.44.

Titan International Stock Performance

The stock has a 50 day moving average of $7.70 and a 200 day moving average of $8.19. The firm has a market cap of $492.13 million, a price-to-earnings ratio of -57.42 and a beta of 1.79. The company has a quick ratio of 1.38, a current ratio of 2.40 and a debt-to-equity ratio of 0.87.

Titan International (NYSE:TWI) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.15). The business had revenue of $532.17 million during the quarter, compared to analyst estimates of $547.02 million. Titan International had a negative net margin of 0.51% and a positive return on equity of 5.83%. As a group, analysts anticipate that Titan International, Inc. will post 0.41 EPS for the current fiscal year.

Institutional Trading of Titan International

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in shares of Titan International by 2,689.3% in the 2nd quarter. Victory Capital Management Inc. now owns 1,220,344 shares of the industrial products company’s stock worth $9,043,000 after acquiring an additional 1,176,593 shares in the last quarter. Denali Advisors LLC boosted its holdings in shares of Titan International by 582.0% in the second quarter. Denali Advisors LLC now owns 276,887 shares of the industrial products company’s stock worth $2,052,000 after acquiring an additional 236,287 shares during the period. Donald Smith & CO. Inc. purchased a new position in Titan International during the 3rd quarter valued at about $3,234,000. Vanguard Group Inc. grew its stake in Titan International by 0.3% during the first quarter. Vanguard Group Inc. now owns 3,878,594 shares of the industrial products company’s stock valued at $48,327,000 after acquiring an additional 10,537 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Titan International in the second quarter worth $101,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

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.