Titan Machinery (NASDAQ:TITN) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.
Several other brokerages have also recently commented on TITN. Piper Jaffray Companies reiterated a “hold” rating on shares of Titan Machinery in a research report on Thursday, September 28th. William Blair upgraded shares of Titan Machinery from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. Robert W. Baird restated an “outperform” rating and issued a $25.00 price objective (up previously from $18.00) on shares of Titan Machinery in a research report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Titan Machinery from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, December 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Titan Machinery has a consensus rating of “Buy” and an average price target of $23.00.
Shares of Titan Machinery (NASDAQ:TITN) opened at $22.67 on Thursday. The company has a market cap of $515.91, a price-to-earnings ratio of -29.44 and a beta of 1.76. Titan Machinery has a 1 year low of $11.68 and a 1 year high of $24.19. The company has a current ratio of 1.70, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31.
Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, November 30th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.08 by $0.12. The company had revenue of $330.34 million during the quarter, compared to analysts’ expectations of $306.74 million. Titan Machinery had a negative net margin of 1.44% and a negative return on equity of 2.29%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. equities research analysts forecast that Titan Machinery will post -0.19 earnings per share for the current fiscal year.
In related news, CEO David Joseph Meyer sold 61,796 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $21.85, for a total value of $1,350,242.60. Following the completion of the sale, the chief executive officer now owns 715,864 shares in the company, valued at approximately $15,641,628.40. The transaction was disclosed in a filing with the SEC, which is available through this link. 16.08% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TITN. Granahan Investment Management Inc. MA increased its position in shares of Titan Machinery by 36.1% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 530,067 shares of the company’s stock valued at $8,232,000 after buying an additional 140,498 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Titan Machinery by 14.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,114,632 shares of the company’s stock valued at $17,310,000 after buying an additional 137,008 shares in the last quarter. Alliancebernstein L.P. bought a new stake in shares of Titan Machinery in the 2nd quarter valued at $1,983,000. Goldman Sachs Group Inc. increased its position in shares of Titan Machinery by 151.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 179,701 shares of the company’s stock valued at $3,231,000 after buying an additional 108,215 shares in the last quarter. Finally, Boston Partners increased its position in shares of Titan Machinery by 13.8% in the 3rd quarter. Boston Partners now owns 494,690 shares of the company’s stock valued at $7,683,000 after buying an additional 59,910 shares in the last quarter. Institutional investors and hedge funds own 76.20% of the company’s stock.
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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