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

Titan International, Inc. (NYSE:TWI)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $7.65, but opened at $7.99. Titan International shares last traded at $7.96, with a volume of 55,624 shares traded.

Analysts Set New Price Targets

Several analysts have weighed in on the company. DA Davidson initiated coverage on Titan International in a report on Friday. They set a “buy” rating and a $11.00 price objective for the company. StockNews.com upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th.

Titan International Trading Up 1.4 %

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.38. The business has a 50-day simple moving average of $7.18 and a two-hundred day simple moving average of $7.61. The stock has a market cap of $489.97 million, a price-to-earnings ratio of -63.75 and a beta of 1.83.

Hedge Funds Weigh In On Titan International

Large investors have recently bought and sold shares of the company. Villanova Investment Management Co LLC acquired a new position in Titan International during the 3rd quarter worth approximately $1,110,000. Victory Capital Management Inc. boosted its holdings in shares of Titan International by 31.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,609,208 shares of the industrial products company’s stock valued at $13,083,000 after buying an additional 388,864 shares during the last quarter. Donald Smith & CO. Inc. acquired a new stake in shares of Titan International in the 3rd quarter valued at approximately $3,234,000. Creative Planning boosted its holdings in shares of Titan International by 80.2% in the 3rd quarter. Creative Planning now owns 73,151 shares of the industrial products company’s stock valued at $595,000 after buying an additional 32,562 shares during the last quarter. Finally, Denali Advisors LLC boosted its holdings in shares of Titan International by 582.0% in the 2nd quarter. Denali Advisors LLC now owns 276,887 shares of the industrial products company’s stock valued at $2,052,000 after buying an additional 236,287 shares during the last quarter. Institutional investors and hedge funds 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.