Titan Machinery (TITN) Cut to Hold at BidaskClub

Titan Machinery (NASDAQ:TITN) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other analysts have also commented on the stock. William Blair raised shares of Titan Machinery from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. Zacks Investment Research raised shares of Titan Machinery from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Wednesday, December 6th. Piper Jaffray Companies set a $19.00 price target on shares of Titan Machinery and gave the company a “hold” rating in a research report on Friday, December 1st. Finally, Robert W. Baird restated an “outperform” rating and issued a $25.00 price target (up previously from $18.00) on shares of Titan Machinery in a research report on Friday, December 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.00.

Titan Machinery (TITN) traded up $0.51 during mid-day trading on Friday, reaching $22.11. 108,832 shares of the company traded hands, compared to its average volume of 190,860. Titan Machinery has a fifty-two week low of $11.68 and a fifty-two week high of $24.19. The firm has a market capitalization of $477.24, a price-to-earnings ratio of -28.35 and a beta of 1.76. The company has a current ratio of 1.70, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, November 30th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.08 by $0.12. Titan Machinery had a negative net margin of 1.44% and a negative return on equity of 2.29%. The business had revenue of $330.34 million during the quarter, compared to analyst estimates of $306.74 million. During the same period in the prior year, the business earned ($0.01) earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. equities analysts forecast that Titan Machinery will post -0.19 earnings per share for the current year.

In related news, CEO David Joseph Meyer sold 61,796 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $21.85, for a total value of $1,350,242.60. Following the completion of the sale, the chief executive officer now owns 715,864 shares in the company, valued at approximately $15,641,628.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.08% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Ameriprise Financial Inc. purchased a new stake in shares of Titan Machinery in the 2nd quarter valued at approximately $590,000. Granahan Investment Management Inc. MA lifted its position in shares of Titan Machinery by 36.1% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 530,067 shares of the company’s stock valued at $8,232,000 after acquiring an additional 140,498 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Titan Machinery by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 738,459 shares of the company’s stock valued at $13,277,000 after acquiring an additional 24,232 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Titan Machinery by 27.0% in the 2nd quarter. Teachers Advisors LLC now owns 44,686 shares of the company’s stock valued at $803,000 after acquiring an additional 9,491 shares in the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in shares of Titan Machinery in the 2nd quarter valued at approximately $1,983,000. Institutional investors and hedge funds own 76.21% of the company’s stock.

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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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