Titan International (NYSE:TWI) Shares Gap Down Following Weak Earnings

Titan International, Inc. (NYSE:TWI)’s share price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $11.17, but opened at $10.07. Titan International shares last traded at $10.06, with a volume of 258,258 shares traded.

The industrial products company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.15). The business had revenue of $482.21 million during the quarter, compared to analyst estimates of $537.32 million. Titan International had a net margin of 3.20% and a return on equity of 18.99%. During the same period in the prior year, the business posted $0.53 EPS.

Analysts Set New Price Targets

Separately, TheStreet downgraded Titan International from a “b-” rating to a “c” rating in a report on Thursday, February 29th.

Insider Activity at Titan International

In other news, CAO Anthony Eheli sold 2,500 shares of Titan International stock in a transaction on Monday, March 25th. The stock was sold at an average price of $12.42, for a total transaction of $31,050.00. Following the sale, the chief accounting officer now directly owns 52,918 shares in the company, valued at approximately $657,241.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Titan International

A number of large investors have recently modified their holdings of TWI. Pacer Advisors Inc. raised its holdings in shares of Titan International by 38.1% during the 4th quarter. Pacer Advisors Inc. now owns 2,310,404 shares of the industrial products company’s stock valued at $34,379,000 after buying an additional 637,123 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Titan International by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,407,435 shares of the industrial products company’s stock worth $50,703,000 after buying an additional 215,637 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Titan International by 55.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 582,950 shares of the industrial products company’s stock valued at $7,829,000 after acquiring an additional 206,984 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Titan International during the 3rd quarter valued at about $2,564,000. Finally, Tritonpoint Wealth LLC bought a new position in Titan International during the 4th quarter worth approximately $2,568,000. 80.39% of the stock is currently owned by institutional investors.

Titan International Stock Down 4.2 %

The firm has a market capitalization of $729.79 million, a PE ratio of 11.25 and a beta of 2.09. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.88. The stock has a 50 day simple moving average of $12.29 and a 200 day simple moving average of $13.23.

Titan International Company Profile

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.