Titan International (NYSE:TWI) Shares Gap Up – Should You Buy?

Titan International, Inc. (NYSE:TWI) gapped up before the market opened on Friday . The stock had previously closed at $7.92, but opened at $8.19. Titan International shares last traded at $8.77, with a volume of 122,579 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on TWI shares. StockNews.com upgraded shares of Titan International from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. DA Davidson initiated coverage on Titan International in a research note on Friday, December 13th. They set a “buy” rating and a $11.00 price target on the stock.

Titan International Trading Up 7.5 %

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 cap of $537.63 million, a PE ratio of -70.96 and a beta of 1.82. The company’s 50 day moving average price is $7.89 and its 200 day moving average price is $7.66.

Institutional Trading of Titan International

A number of large investors have recently modified their holdings of the stock. Quarry LP acquired a new position in Titan International during the 3rd quarter worth $41,000. FMR LLC lifted its stake in Titan International by 43.7% in the third quarter. FMR LLC now owns 5,343 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 1,625 shares during the last quarter. GAMMA Investing LLC grew its holdings in Titan International by 136.2% during the 4th quarter. GAMMA Investing LLC now owns 5,431 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 3,132 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Titan International in the 4th quarter valued at approximately $54,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Titan International in the 4th quarter valued at $74,000. Hedge funds and other institutional investors 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.