Insider Buying: Titan Machinery Inc. (TITN) Director Acquires 8,302 Shares of Stock
Titan Machinery Inc. (NASDAQ:TITN) Director Stan K. Erickson purchased 8,302 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average cost of $12.50 per share, for a total transaction of $103,775.00. Following the purchase, the director now directly owns 13,495 shares in the company, valued at $168,687.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Titan Machinery Inc. (NASDAQ TITN) traded up 6.255% on Thursday, reaching $13.505. The company’s stock had a trading volume of 254,486 shares. The stock’s market capitalization is $288.63 million. Titan Machinery Inc. has a 1-year low of $8.68 and a 1-year high of $19.22. The stock has a 50-day moving average of $16.45 and a 200 day moving average of $16.03.
Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, August 31st. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $268.87 million during the quarter, compared to the consensus estimate of $260.08 million. Titan Machinery had a negative return on equity of 3.67% and a negative net margin of 1.61%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.12) earnings per share. On average, equities analysts forecast that Titan Machinery Inc. will post ($0.17) EPS for the current year.
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Several equities research analysts have recently commented on TITN shares. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Friday, June 30th. BidaskClub lowered Titan Machinery from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Robert W. Baird set a $18.00 target price on Titan Machinery and gave the company a “buy” rating in a research note on Thursday, August 24th. Piper Jaffray Companies set a $18.00 target price on Titan Machinery and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, ValuEngine raised Titan Machinery from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $18.50.
Several hedge funds have recently bought and sold shares of TITN. Teachers Advisors LLC increased its position in shares of Titan Machinery by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 31,879 shares of the company’s stock worth $464,000 after purchasing an additional 2,050 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Titan Machinery by 98.6% in the first quarter. Nationwide Fund Advisors now owns 65,032 shares of the company’s stock worth $998,000 after buying an additional 32,283 shares in the last quarter. Strs Ohio boosted its stake in Titan Machinery by 2,023.1% in the first quarter. Strs Ohio now owns 27,600 shares of the company’s stock worth $423,000 after buying an additional 26,300 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Titan Machinery by 9.3% in the first quarter. Russell Investments Group Ltd. now owns 225,541 shares of the company’s stock worth $3,460,000 after buying an additional 19,200 shares in the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in Titan Machinery in the first quarter worth approximately $1,159,000. Institutional investors own 77.45% of the company’s stock.
Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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