Titan International (NYSE:TWI) Shares Up 5.6% – Still a Buy?

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

Analyst Ratings Changes

Several analysts have recently weighed in on TWI shares. StockNews.com lowered Titan International from a “hold” rating to a “sell” rating in a report on Friday. Cantor Fitzgerald started coverage on shares of Titan International in a report on Thursday. They issued an “overweight” rating and a $11.00 price target for the company. Finally, DA Davidson started 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.

Titan International Price Performance

The company has a market cap of $550.77 million, a P/E ratio of -72.63 and a beta of 1.77. 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 company has a fifty day simple moving average of $8.38 and a 200-day simple moving average of $7.71.

Institutional Investors Weigh In On Titan International

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Titan International by 4.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,628 shares of the industrial products company’s stock worth $194,000 after purchasing an additional 1,216 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Titan International by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 232,819 shares of the industrial products company’s stock worth $1,581,000 after acquiring an additional 1,464 shares in the last quarter. FMR LLC increased its position in shares of Titan International by 43.7% in the third quarter. FMR LLC now owns 5,343 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 1,625 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Titan International by 136.2% during 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 period. Finally, MetLife Investment Management LLC lifted its position in shares of Titan International by 14.1% in the 4th quarter. MetLife Investment Management LLC now owns 26,763 shares of the industrial products company’s stock valued at $182,000 after acquiring an additional 3,310 shares in the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

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.