Titan International (NYSE:TWI) Trading 5.6% Higher – Here’s What Happened

Titan International, Inc. (NYSE:TWI) shares were up 5.6% on Thursday . The stock traded as high as $8.82 and last traded at $8.93. Approximately 90,042 shares were traded during trading, a decline of 86% from the average daily volume of 647,301 shares. The stock had previously closed at $8.45.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TWI. DA Davidson started coverage on Titan International in a research note on Friday, December 13th. They issued a “buy” rating and a $11.00 target price for the company. StockNews.com lowered Titan International from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Cantor Fitzgerald initiated coverage on Titan International in a research note on Thursday. They set an “overweight” rating and a $11.00 price objective for the company.

Titan International Stock Down 3.3 %

The firm’s 50 day simple moving average is $8.38 and its 200 day simple moving average is $7.71. The company has a market cap of $550.77 million, a price-to-earnings ratio of -72.63 and a beta of 1.77. The company has a quick ratio of 1.33, a current ratio of 2.38 and a debt-to-equity ratio of 0.84.

Institutional Trading of Titan International

Several hedge funds have recently added to or reduced their stakes in TWI. Quest Partners LLC acquired a new position in shares of Titan International during the third quarter valued at $159,000. Intech Investment Management LLC bought a new position in Titan International in the 3rd quarter valued at about $117,000. Charles Schwab Investment Management Inc. grew its position in Titan International by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 506,551 shares of the industrial products company’s stock valued at $4,118,000 after buying an additional 6,112 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Titan International during the 3rd quarter valued at about $444,000. Finally, FMR LLC raised its position in shares of Titan International by 43.7% during the 3rd quarter. FMR LLC now owns 5,343 shares of the industrial products company’s stock worth $43,000 after buying an additional 1,625 shares in the last quarter. Institutional investors 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.