Titan International (NYSE:TWI) Shares Down 8.2% – Here’s What Happened

Shares of Titan International, Inc. (NYSE:TWI) fell 8.2% during mid-day trading on Thursday . The company traded as low as $7.88 and last traded at $8.02. 1,235,574 shares traded hands during trading, an increase of 75% from the average session volume of 706,149 shares. The stock had previously closed at $8.73.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TWI. DA Davidson began coverage on Titan International in a report on Friday, December 13th. They set a “buy” rating and a $11.00 target price for the company. StockNews.com upgraded Titan International from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th.

Titan International Price Performance

The company has a market cap of $537.63 million, a P/E ratio of -70.96 and a beta of 1.82. The company has a fifty day moving average price of $7.92 and a two-hundred day moving average price of $7.67. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.38.

Hedge Funds Weigh In On Titan International

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of Titan International by 136.2% in the 4th 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 in the last quarter. Quarry LP acquired a new stake in Titan International in the 3rd quarter valued at about $41,000. FMR LLC lifted its stake in Titan International by 43.7% in the 3rd quarter. FMR LLC now owns 5,343 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 1,625 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Titan International in the 4th quarter valued at about $54,000. Finally, Mraz Amerine & Associates Inc. acquired a new stake in Titan International in the 4th quarter valued at about $74,000. 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.