Titan International Inc (NYSE:TWI) saw unusually large options trading on Thursday. Stock investors purchased 7,582 call options on the company. This represents an increase of approximately 2,570% compared to the average daily volume of 284 call options.
TWI stock traded down $0.03 during trading on Friday, hitting $5.53. The stock had a trading volume of 194,859 shares, compared to its average volume of 363,763. The company has a current ratio of 1.91, a quick ratio of 1.02 and a debt-to-equity ratio of 1.49. Titan International has a twelve month low of $4.35 and a twelve month high of $12.38. The stock has a market cap of $333.60 million, a price-to-earnings ratio of 20.48 and a beta of 1.75.
Titan International (NYSE:TWI) last issued its earnings results on Friday, May 3rd. The industrial products company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.13). The company had revenue of $410.40 million for the quarter, compared to analyst estimates of $429.30 million. Titan International had a negative return on equity of 2.44% and a negative net margin of 0.77%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. As a group, equities analysts forecast that Titan International will post 0.37 EPS for the current fiscal year.
TWI has been the subject of a number of recent research reports. TheStreet upgraded Titan International from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. ValuEngine upgraded Titan International from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 7th. Sidoti set a $10.00 price target on Titan International and gave the company a “buy” rating in a research note on Wednesday, February 20th. Finally, Zacks Investment Research lowered Titan International from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.44.
Several institutional investors have recently modified their holdings of TWI. Rutabaga Capital Management LLC MA purchased a new position in shares of Titan International during the 1st quarter worth approximately $5,997,000. Swiss National Bank increased its stake in shares of Titan International by 5.0% during the 1st quarter. Swiss National Bank now owns 92,800 shares of the industrial products company’s stock worth $554,000 after purchasing an additional 4,400 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Titan International by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,586,438 shares of the industrial products company’s stock worth $27,381,000 after purchasing an additional 234,746 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Titan International by 87.9% during the 1st quarter. Wells Fargo & Company MN now owns 158,613 shares of the industrial products company’s stock worth $947,000 after purchasing an additional 74,220 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Titan International by 0.8% during the 1st quarter. BlackRock Inc. now owns 7,857,667 shares of the industrial products company’s stock worth $46,910,000 after purchasing an additional 65,432 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Titan International Target of Unusually Large Options Trading (TWI)” was originally reported by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.baseballdailydigest.com/news/2019/05/11/titan-international-sees-unusually-large-options-volume-twi.html.
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 North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
Featured Story: What is the strike price in options trading?
Receive News & Ratings for Titan International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan International and related companies with MarketBeat.com's FREE daily email newsletter.