Titan Machinery’s (TITN) Outperform Rating Reiterated at Robert W. Baird

Titan Machinery (NASDAQ:TITN)‘s stock had its “outperform” rating restated by stock analysts at Robert W. Baird in a research report issued on Friday, The Fly reports. They presently have a $25.00 price objective on the stock, up from their prior price objective of $18.00. Robert W. Baird’s price target indicates a potential upside of 15.90% from the company’s previous close.

TITN has been the subject of a number of other reports. Zacks Investment Research upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine lowered Titan Machinery from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub lowered Titan Machinery from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.33.

Titan Machinery (TITN) traded up $2.57 on Friday, hitting $21.57. The stock had a trading volume of 1,012,389 shares, compared to its average volume of 132,911. Titan Machinery has a 12 month low of $11.68 and a 12 month high of $21.67. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.74 and a quick ratio of 0.37.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, November 30th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.12. The company had revenue of $330.34 million during the quarter, compared to analysts’ expectations of $306.74 million. Titan Machinery had a negative return on equity of 3.69% and a negative net margin of 1.61%. Titan Machinery’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share. sell-side analysts predict that Titan Machinery will post -0.22 EPS for the current year.

In other news, Director Stan K. Erickson bought 8,302 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was acquired at an average cost of $12.50 per share, for a total transaction of $103,775.00. Following the completion of the purchase, the director now owns 13,495 shares of the company’s stock, valued at approximately $168,687.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 16.08% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in Titan Machinery during the third quarter worth $155,000. American International Group Inc. raised its stake 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 acquiring an additional 729 shares in the last quarter. Numeric Investors LLC acquired a new position in Titan Machinery during the second quarter worth $191,000. Voya Investment Management LLC raised its stake 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 acquiring an additional 1,429 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in Titan Machinery during the third quarter worth $211,000. Hedge funds and other institutional investors own 76.37% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Titan Machinery’s (TITN) Outperform Rating Reiterated at Robert W. Baird” was published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.americanbankingnews.com/2017/12/01/titan-machinerys-titn-outperform-rating-reiterated-at-robert-w-baird.html.

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.

The Fly

Receive News & Ratings for Titan Machinery Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Machinery Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply