Jefferies Maintains Titan International Inc to Hold with Price Target $8.00

Brokerage firm Jefferies Maintains its rating on Titan International Inc(NYSE:TWI). In a research note issued to the investors, the brokerage major Raises the price-target to $8.00 per share. The shares have been rated Hold. The rating by Jefferies was issued on Aug 5, 2016.

Titan International Inc (TWI) made into the market gainers list on Wednesdays trading session with the shares advancing 0.77% or 0.07 points. Due to strong positive momentum, the stock ended at $9.14, which is also near the day’s high of $9.18. The stock began the session at $9.04 and the volume stood at 2,99,228 shares. The 52-week high of the shares is $9.5 and the 52 week low is $2.5. The company has a current market capitalization of $494 M and it has 5,40,46,512 shares in outstanding.

Titan International Inc(TWI) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $330.21M. Analysts had an estimated revenue of $331.08M. Earnings per share were $-0.04. Analysts had estimated an EPS of $-0.05.

Several Insider Transactions has been reported to the SEC. On Mar 4, 2016, Gary L Cowger (director) purchased 23,760 shares at $6.20 per share price.Also, On Mar 2, 2016, Peter Mcnitt (director) purchased 25,000 shares at $5.23 per share price.On Nov 16, 2015, Paul G Reitz (President) purchased 7,000 shares at $4.56 per share price, according to the Form-4 filing with the securities and exchange commission.

Titan International Inc. together with its subsidiaries manufactures wheels tires wheel and tire assemblies and undercarriage systems and components for off-highway vehicles used in the agricultural earthmoving/construction and consumer segments. The Company operates in three segments: agricultural earthmoving/construction and consumer. Titan’s agricultural segment includes rims wheels tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment. Titan’s earthmoving/construction segment includes rims wheels tires and undercarriage systems and components for various types of off-the-road (OTR) earthmoving mining military and construction equipment. The Company’s consumer segment includes bias truck tires in Latin America and light truck tires in Russia as well as products for all-terrain vehicles (ATVs) and recreational/utility trailers.

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