Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of industrial tire maker Titan International (NYS: TWI) saw its shares fall as much as 13% today after reporting earnings.
So what: Revenue increased 14% to $459.2 million, but it fell well short of the $492.1 million analysts had expected. On the earnings side, a similar story played out with earnings per share increasing to $0.56 from $0.46 a year ago, which was $0.08 short of estimates.
Now what: Titan is still performing well overall; it just didn't meet the high expectations of Wall Street this quarter. The stock still trades at less than 10 times trailing earnings, a great price for a growing and stable business. I think this is a temporary low and provides a good buying opportunity for investors.
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The article Why Titan International's Shares Plunged originally appeared on Fool.com.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.