Titan International (NYSE:TWI) Trading 8.2% Higher - Time to Buy?

Titan International, Inc. (NYSE:TWI - Get Free Report) shares were up 8.2% during mid-day trading on Friday . The stock traded as high as $6.99 and last traded at $6.97. Approximately 216,410 shares traded 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 Up 5.4 %

The firm's 50-day moving average price is $7.70 and its 200-day moving average price is $8.19. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.40 and a quick ratio of 1.38. The company has a market cap of $489.97 million, a price-to-earnings ratio of -56.83 and a beta of 1.79.

Titan International (NYSE:TWI - Get Free Report) last released 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). Titan International had a positive return on equity of 5.83% and a negative net margin of 0.51%. The firm had revenue of $532.17 million for the quarter, compared to analysts' expectations of $547.02 million. Sell-side analysts forecast that Titan International, Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Titan International

Hedge funds and other institutional investors have recently bought and sold shares of the business. SummerHaven Investment Management LLC grew its stake in Titan International by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 64,975 shares of the industrial products company's stock worth $481,000 after purchasing an additional 1,868 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Titan International by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,505 shares of the industrial products company's stock valued at $555,000 after acquiring an additional 2,171 shares during the last quarter. Capital Investment Counsel Inc increased its holdings in shares of Titan International by 2.2% in the 2nd quarter. Capital Investment Counsel Inc now owns 117,383 shares of the industrial products company's stock valued at $870,000 after acquiring an additional 2,543 shares during the last quarter. CWM LLC raised its position in shares of Titan International by 46.8% during the 2nd quarter. CWM LLC now owns 8,837 shares of the industrial products company's stock valued at $65,000 after acquiring an additional 2,819 shares in the last quarter. Finally, nVerses Capital LLC lifted its stake in Titan International by 344.4% during the second quarter. nVerses Capital LLC now owns 4,000 shares of the industrial products company's stock worth $30,000 after purchasing an additional 3,100 shares during the last quarter. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

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.