Titan Machinery Inc. (TITN) Lifted to Hold at ValuEngine
Titan Machinery Inc. (NASDAQ:TITN) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
A number of other research firms have also weighed in on TITN. Zacks Investment Research lowered Titan Machinery from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Piper Jaffray Companies set a $18.00 price objective on Titan Machinery and gave the company a “hold” rating in a research report on Friday, August 4th. BidaskClub lowered Titan Machinery from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Robert W. Baird set a $18.00 price objective on Titan Machinery and gave the company a “buy” rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $18.50.
Titan Machinery (NASDAQ:TITN) traded up 2.60% during midday trading on Thursday, hitting $13.04. The stock had a trading volume of 345,195 shares. The stock’s 50-day moving average is $16.32 and its 200-day moving average is $16.01. The stock’s market capitalization is $278.69 million. Titan Machinery has a 1-year low of $8.68 and a 1-year high of $19.22.
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 Zacks’ consensus estimate of ($0.01) by $0.03. Titan Machinery had a negative net margin of 1.61% and a negative return on equity of 3.67%. The company had revenue of $268.87 million for the quarter, compared to the consensus estimate of $260.08 million. During the same period last year, the business earned ($0.12) EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Titan Machinery will post ($0.17) EPS for the current fiscal year.
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In other Titan Machinery news, Director Stan K. Erickson bought 8,302 shares of Titan Machinery stock in a transaction on Wednesday, September 6th. The stock was acquired at an average price of $12.50 per share, with a total value of $103,775.00. Following the acquisition, the director now owns 13,495 shares in the company, valued at $168,687.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 16.08% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd increased its holdings in shares of Titan Machinery by 29.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock worth $235,000 after purchasing an additional 2,939 shares in the last quarter. Sterling Capital Management LLC bought a new stake in shares of Titan Machinery in the 2nd quarter worth $788,000. The Manufacturers Life Insurance Company increased its holdings in shares of Titan Machinery by 14.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,622 shares of the company’s stock worth $298,000 after purchasing an additional 2,054 shares in the last quarter. State Street Corp increased its holdings in shares of Titan Machinery by 10.1% in the 2nd quarter. State Street Corp now owns 328,539 shares of the company’s stock worth $5,910,000 after purchasing an additional 30,139 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Titan Machinery by 170.4% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 59,504 shares of the company’s stock worth $1,069,000 after purchasing an additional 37,500 shares in the last quarter. 77.45% of the stock is owned by institutional investors and hedge funds.
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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