Wells Fargo & Company MN lifted its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,527 shares of the company’s stock after purchasing an additional 6,855 shares during the period. Wells Fargo & Company MN owned approximately 0.25% of Titan Machinery worth $1,085,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new position in Titan Machinery during the 4th quarter worth $31,000. Exchange Traded Concepts LLC acquired a new stake in shares of Titan Machinery during the 4th quarter worth approximately $313,000. State of Wisconsin Investment Board raised its stake in shares of Titan Machinery by 22.9% during the fourth quarter. State of Wisconsin Investment Board now owns 17,200 shares of the company’s stock worth $336,000 after buying an additional 3,200 shares during the last quarter. AQR Capital Management LLC bought a new position in Titan Machinery in the third quarter valued at approximately $285,000. Finally, Campbell & CO Investment Adviser LLC grew its holdings in Titan Machinery by 72.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 21,764 shares of the company’s stock worth $425,000 after acquiring an additional 9,172 shares during the period. 73.26% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on TITN. Robert W. Baird reaffirmed a “buy” rating on shares of Titan Machinery in a research note on Sunday, March 21st. TheStreet upgraded shares of Titan Machinery from a “c+” rating to a “b-” rating in a research report on Friday, January 22nd. Finally, Zacks Investment Research upgraded shares of Titan Machinery from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Wednesday, March 24th. Four analysts have rated the stock with a buy rating, Titan Machinery presently has an average rating of “Buy” and a consensus price target of $26.00.
NASDAQ:TITN opened at $26.05 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.72 and a quick ratio of 0.33. The business’s 50-day simple moving average is $25.78 and its 200-day simple moving average is $20.27. Titan Machinery Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $30.00. The stock has a market capitalization of $587.51 million, a PE ratio of 30.65 and a beta of 1.92.
Titan Machinery (NASDAQ:TITN) last announced its earnings results on Wednesday, March 17th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.13 by $0.10. The firm had revenue of $436.70 million for the quarter, compared to the consensus estimate of $369.60 million. Titan Machinery had a net margin of 1.45% and a return on equity of 6.64%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. On average, research analysts expect that Titan Machinery Inc. will post 1.15 earnings per share for the current year.
Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.
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