Titan Machinery (NASDAQ:TITN) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Titan Machinery (NASDAQ:TITN) from a sell rating to a hold rating in a research report report published on Saturday.

TITN has been the subject of a number of other research reports. Robert W. Baird dropped their price target on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Northland Capmk upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Lake Street Capital restated a “hold” rating and issued a $18.00 price target (up previously from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. Northland Securities upgraded Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research report on Friday, April 11th. Finally, B. Riley raised their price target on Titan Machinery from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Titan Machinery Price Performance

Titan Machinery stock opened at $18.86 on Friday. Titan Machinery has a one year low of $12.30 and a one year high of $23.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.18 and a current ratio of 1.33. The business has a fifty day moving average of $18.69 and a two-hundred day moving average of $16.88. The company has a market cap of $435.29 million, a P/E ratio of -7.17 and a beta of 1.35.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, May 22nd. The company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.21. Titan Machinery had a negative return on equity of 8.22% and a negative net margin of 2.23%. The company had revenue of $594.34 million during the quarter, compared to the consensus estimate of $445.76 million.

Insider Buying and Selling

In related news, Chairman David Joseph Meyer acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the transaction, the chairman now owns 138,388 shares in the company, valued at $2,333,221.68. This trade represents a 2.22% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.84% of the stock is currently owned by company insiders.

Institutional Trading of Titan Machinery

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its holdings in Titan Machinery by 5.1% in the 4th quarter. Empowered Funds LLC now owns 20,000 shares of the company’s stock valued at $283,000 after buying an additional 962 shares during the period. US Bancorp DE grew its holdings in Titan Machinery by 23.8% in 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 during the period. PNC Financial Services Group Inc. grew its holdings in Titan Machinery by 91.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock valued at $122,000 after buying an additional 4,103 shares during the period. First Eagle Investment Management LLC grew its holdings in Titan Machinery by 42.4% in the 4th quarter. First Eagle Investment Management LLC now owns 634,509 shares of the company’s stock valued at $8,966,000 after buying an additional 188,998 shares during the period. Finally, Royce & Associates LP purchased a new stake in Titan Machinery in the 4th quarter valued at about $1,065,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.