Titan International (NYSE:TWI) Shares Gap Down on Disappointing Earnings

Shares of Titan International, Inc. (NYSE:TWI) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $11.17, but opened at $10.07. Titan International shares last traded at $10.06, with a volume of 258,258 shares trading hands.

The industrial products company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.15). Titan International had a net margin of 3.20% and a return on equity of 18.99%. The business had revenue of $482.21 million during the quarter, compared to analysts’ expectations of $537.32 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share.

Analyst Ratings Changes

Separately, TheStreet downgraded shares of Titan International from a “b-” rating to a “c” rating in a report on Thursday, February 29th.

Insider Buying and Selling

In other news, CAO Anthony Eheli sold 2,500 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $12.42, for a total transaction of $31,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 52,918 shares in the company, valued at approximately $657,241.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TWI. Byrne Asset Management LLC bought a new stake in shares of Titan International in the 1st quarter valued at approximately $25,000. Tradewinds Capital Management LLC bought a new position in Titan International during the first quarter valued at $100,000. SG Americas Securities LLC purchased a new stake in shares of Titan International in the third quarter valued at $139,000. Quantbot Technologies LP boosted its stake in shares of Titan International by 20.1% during the 3rd quarter. Quantbot Technologies LP now owns 11,564 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 1,935 shares during the period. Finally, Boulder Hill Capital Management LP bought a new position in Titan International during the 4th quarter valued at about $161,000. Institutional investors own 80.39% of the company’s stock.

Titan International Price Performance

The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $729.79 million, a PE ratio of 11.25 and a beta of 2.09. The stock’s 50-day moving average is $12.29 and its two-hundred day moving average is $13.23.

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.