Titan Machinery Inc. (TITN) Given Average Rating of “Hold” by Brokerages

Titan Machinery Inc. (NASDAQ:TITN) has been given a consensus rating of “Hold” by the seven research firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $23.00.

A number of equities analysts have commented on TITN shares. Robert W. Baird reiterated an “outperform” rating and issued a $25.00 target price (up from $18.00) on shares of Titan Machinery in a report on Friday, December 1st. Zacks Investment Research upgraded shares of Titan Machinery from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. BidaskClub upgraded shares of Titan Machinery from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Piper Jaffray Companies set a $19.00 target price on shares of Titan Machinery and gave the stock a “hold” rating in a report on Friday, December 1st. Finally, William Blair upgraded shares of Titan Machinery from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 2nd.

In other news, CEO David Joseph Meyer sold 61,796 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total transaction of $1,350,242.60. Following the sale, the chief executive officer now owns 715,864 shares in the company, valued at $15,641,628.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.08% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Titan Machinery by 14.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,114,632 shares of the company’s stock worth $17,310,000 after acquiring an additional 137,008 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Titan Machinery by 3.4% during the second quarter. Vanguard Group Inc. now owns 738,459 shares of the company’s stock worth $13,277,000 after acquiring an additional 24,232 shares during the last quarter. Granahan Investment Management Inc. MA grew its stake in shares of Titan Machinery by 36.1% during the third quarter. Granahan Investment Management Inc. MA now owns 530,067 shares of the company’s stock worth $8,232,000 after acquiring an additional 140,498 shares during the last quarter. Boston Partners grew its stake in shares of Titan Machinery by 13.8% during the third quarter. Boston Partners now owns 494,690 shares of the company’s stock worth $7,683,000 after acquiring an additional 59,910 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Titan Machinery by 10.1% during the second quarter. State Street Corp now owns 328,539 shares of the company’s stock worth $5,910,000 after acquiring an additional 30,139 shares during the last quarter. Institutional investors and hedge funds own 76.21% of the company’s stock.

Titan Machinery (NASDAQ:TITN) opened at $22.11 on Friday. The company has a market cap of $477.24, a PE ratio of -28.35 and a beta of 1.76. The company has a quick ratio of 0.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.31. Titan Machinery has a fifty-two week low of $11.68 and a fifty-two week high of $24.19.

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

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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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