Analysts Set Titan Machinery Inc. (NASDAQ:TITN) Price Target at $21.00

Titan Machinery Inc. (NASDAQ:TITN) has been assigned an average rating of “Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $21.00.

TITN has been the subject of several analyst reports. B. Riley increased their target price on Titan Machinery from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, May 27th. Lake Street Capital restated a “hold” rating and set a $18.00 target price (up from $15.00) on shares of Titan Machinery in a report on Friday, May 23rd. Northland Capmk upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Robert W. Baird dropped their price objective on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, Northland Securities upgraded Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Friday, April 11th.

Insiders Place Their Bets

In other news, Chairman David Joseph Meyer bought 22,524 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was purchased at an average price of $16.83 per share, with a total value of $379,078.92. Following the transaction, the chairman now owns 135,388 shares of the company’s stock, valued at approximately $2,278,580.04. The trade was a 19.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders acquired 26,182 shares of company stock worth $439,661. 10.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. R Squared Ltd bought a new position in Titan Machinery during the 4th quarter valued at approximately $26,000. Russell Investments Group Ltd. increased its position in Titan Machinery by 51.2% during the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock valued at $37,000 after buying an additional 882 shares in the last quarter. US Bancorp DE increased its position in Titan Machinery by 23.8% during the 4th quarter. US Bancorp DE now owns 3,861 shares of the company’s stock valued at $55,000 after buying an additional 741 shares in the last quarter. New York State Common Retirement Fund increased its position in Titan Machinery by 42.8% during the 1st quarter. New York State Common Retirement Fund now owns 4,674 shares of the company’s stock valued at $80,000 after buying an additional 1,400 shares in the last quarter. Finally, State of Wyoming bought a new position in Titan Machinery during the 1st quarter valued at approximately $109,000. Institutional investors own 78.38% of the company’s stock.

Titan Machinery Price Performance

TITN opened at $18.78 on Friday. The stock has a market capitalization of $433.56 million, a P/E ratio of 14.02 and a beta of 1.35. Titan Machinery has a 12-month low of $12.30 and a 12-month high of $23.41. The stock has a 50-day moving average price of $17.77 and a 200-day moving average price of $16.50. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, May 22nd. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.21. The company had revenue of $594.34 million during the quarter, compared to analysts’ expectations of $445.76 million. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. 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.