Titan International (NYSE:TWI) Shares Gap Up – Here’s Why

Titan International, Inc. (NYSE:TWI)’s share price gapped up prior to trading 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.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TWI. DA Davidson began coverage on shares of Titan International in a report on Friday. They issued a “buy” rating and a $11.00 price objective on the stock. StockNews.com raised shares of Titan International from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th.

Titan International Stock Performance

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 firm has a market capitalization of $489.97 million, a price-to-earnings ratio of -63.75 and a beta of 1.83. The firm’s fifty day moving average is $7.18 and its 200 day moving average is $7.61.

Hedge Funds Weigh In On Titan International

A number of institutional investors have recently modified their holdings of the company. Barclays PLC increased its position in Titan International by 207.1% during the third quarter. Barclays PLC now owns 107,669 shares of the industrial products company’s stock worth $877,000 after acquiring an additional 72,612 shares during the period. Villanova Investment Management Co LLC acquired a new stake in Titan International during the third quarter worth $1,110,000. Quantinno Capital Management LP acquired a new stake in Titan International during the third quarter worth $92,000. Quarry LP acquired a new stake in Titan International during the third quarter worth $41,000. Finally, Readystate Asset Management LP acquired a new stake in shares of Titan International in the 3rd quarter valued at $355,000. Institutional investors own 80.39% of the company’s stock.

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.