Titan International (TWI) Bond Prices Fall 1.4%

An issue of Titan International Inc (NYSE:TWI) bonds fell 1.4% against their face value during trading on Tuesday. The high-yield issue of debt has a 6.5% coupon and is set to mature on November 30, 2023. The debt is now trading at $96.50 and was trading at $97.25 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its stock price.

A number of equities analysts have recently commented on the company. ValuEngine cut Titan International from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 12th. TheStreet cut Titan International from a “c” rating to a “d+” rating in a report on Thursday, August 23rd. Zacks Investment Research cut Titan International from a “hold” rating to a “strong sell” rating in a report on Thursday, August 9th. Jefferies Financial Group lowered their target price on Titan International from $12.00 to $8.50 and set a “hold” rating for the company in a report on Tuesday, August 7th. Finally, William Blair cut Titan International from an “outperform” rating to a “market perform” rating and set a $21.00 target price for the company. in a report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Titan International currently has a consensus rating of “Hold” and a consensus target price of $14.50.

TWI traded down $0.17 on Tuesday, reaching $7.64. The stock had a trading volume of 235,900 shares, compared to its average volume of 325,970. Titan International Inc has a fifty-two week low of $6.71 and a fifty-two week high of $14.53. The company has a quick ratio of 1.14, a current ratio of 2.05 and a debt-to-equity ratio of 1.37. The stock has a market cap of $452.83 million, a PE ratio of -15.88 and a beta of 1.48.

Titan International (NYSE:TWI) last issued its earnings results on Friday, August 3rd. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). Titan International had a positive return on equity of 3.38% and a negative net margin of 1.47%. The firm had revenue of $428.90 million during the quarter, compared to analyst estimates of $427.32 million. During the same period in the previous year, the company earned ($0.17) EPS. Titan International’s revenue for the quarter was up 17.7% on a year-over-year basis. equities research analysts expect that Titan International Inc will post 0.23 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a $0.005 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.02 dividend on an annualized basis and a yield of 0.26%. Titan International’s payout ratio is presently -4.08%.

In related news, Director Maurice M. Taylor, Jr. purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was bought at an average price of $7.20 per share, with a total value of $720,000.00. Following the completion of the purchase, the director now owns 549,870 shares in the company, valued at approximately $3,959,064. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David A. Martin purchased 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was bought at an average cost of $7.21 per share, with a total value of $144,200.00. The disclosure for this purchase can be found here. 17.30% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of TWI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Titan International in the second quarter valued at about $113,000. Bayesian Capital Management LP acquired a new stake in shares of Titan International in the first quarter valued at about $130,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Titan International in the first quarter valued at about $141,000. Paloma Partners Management Co acquired a new stake in shares of Titan International in the second quarter valued at about $149,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Titan International in the first quarter valued at about $165,000. 86.41% of the stock is owned by institutional investors.

About Titan International (NYSE:TWI)

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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