Titan Machinery (NASDAQ:TITN) Upgraded at Wall Street Zen

Titan Machinery (NASDAQ:TITN) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Robert W. Baird decreased their target price on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 20th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Titan Machinery presently has an average rating of “Reduce” and a consensus price target of $17.00.

Titan Machinery Trading Down 3.9%

Shares of NASDAQ:TITN opened at $23.18 on Friday. The firm has a fifty day moving average of $20.00 and a two-hundred day moving average of $18.03. The firm has a market capitalization of $540.33 million, a P/E ratio of -9.74 and a beta of 1.38. Titan Machinery has a 12-month low of $13.21 and a 12-month high of $24.60. The company has a quick ratio of 0.24, a current ratio of 1.41 and a debt-to-equity ratio of 0.35.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, March 19th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.44). The company had revenue of $641.83 million for the quarter, compared to analyst estimates of $615.53 million. Titan Machinery had a negative net margin of 2.23% and a negative return on equity of 8.40%. On average, equities analysts expect that Titan Machinery will post -1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming raised its holdings in shares of Titan Machinery by 3.0% during the 1st quarter. State of Wyoming now owns 24,568 shares of the company’s stock valued at $411,000 after purchasing an additional 715 shares in the last quarter. Graham Capital Management L.P. raised its holdings in shares of Titan Machinery by 8.1% during the 4th quarter. Graham Capital Management L.P. now owns 11,640 shares of the company’s stock valued at $175,000 after purchasing an additional 869 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Titan Machinery by 1.1% during the 2nd quarter. Gabelli Funds LLC now owns 95,500 shares of the company’s stock valued at $1,892,000 after purchasing an additional 1,000 shares in the last quarter. Quarry LP raised its holdings in shares of Titan Machinery by 189.8% during the 3rd quarter. Quarry LP now owns 1,536 shares of the company’s stock valued at $26,000 after purchasing an additional 1,006 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Titan Machinery by 14.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,341 shares of the company’s stock valued at $140,000 after purchasing an additional 1,063 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

About Titan Machinery

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.