Titan Machinery Inc. (TITN) Given Consensus Recommendation of “Hold” by Brokerages
Titan Machinery Inc. (NASDAQ:TITN) has received an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $18.00.
A number of analysts recently issued reports on the company. BidaskClub lowered Titan Machinery from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. ValuEngine lowered Titan Machinery from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Piper Jaffray Companies set a $18.00 price target on Titan Machinery and gave the company a “hold” rating in a report on Friday, August 4th. Robert W. Baird set a $18.00 price target on Titan Machinery and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research lowered Titan Machinery from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th.
In other news, Director Stan K. Erickson purchased 8,302 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average price of $12.50 per share, for a total transaction of $103,775.00. Following the completion of the acquisition, the director now owns 13,495 shares of the company’s stock, valued at $168,687.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.08% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Numeric Investors LLC purchased a new stake in Titan Machinery during the second quarter worth $191,000. American International Group Inc. lifted its holdings in Titan Machinery by 7.2% during the first quarter. American International Group Inc. now owns 10,919 shares of the company’s stock worth $167,000 after buying an additional 729 shares during the period. Oxford Asset Management purchased a new stake in Titan Machinery during the first quarter worth $168,000. Voya Investment Management LLC lifted its holdings in Titan Machinery by 14.2% during the second quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock worth $207,000 after buying an additional 1,429 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in Titan Machinery by 29.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock worth $235,000 after buying an additional 2,939 shares during the period. Institutional investors own 76.78% of the company’s stock.
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Shares of Titan Machinery (TITN) opened at 14.71 on Friday. The company’s market cap is $316.93 million. The stock’s 50 day moving average price is $14.65 and its 200 day moving average price is $16.20. Titan Machinery has a 12-month low of $8.68 and a 12-month high of $19.22.
Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Thursday, August 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The firm had revenue of $268.87 million during the quarter, compared to analysts’ expectations of $260.08 million. Titan Machinery had a negative net margin of 1.61% and a negative return on equity of 3.69%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.12) EPS. On average, analysts forecast that Titan Machinery will post ($0.22) EPS for the current year.
About Titan Machinery
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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