BidaskClub Downgrades Titan Machinery (TITN) to Sell

Titan Machinery (NASDAQ:TITN) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Several other brokerages also recently issued reports on TITN. Craig Hallum reaffirmed a “buy” rating and issued a $26.00 price target on shares of Titan Machinery in a research report on Thursday, March 29th. Robert W. Baird set a $26.00 price target on Titan Machinery and gave the company a “buy” rating in a research report on Thursday, March 29th. William Blair reissued a “hold” rating on shares of Titan Machinery in a research report on Wednesday, April 4th. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Tuesday, May 29th. Finally, ValuEngine raised Titan Machinery from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Titan Machinery has a consensus rating of “Hold” and a consensus price target of $23.75.

Shares of NASDAQ:TITN opened at $15.06 on Wednesday. The stock has a market capitalization of $340.91 million, a PE ratio of -125.50 and a beta of 1.53. Titan Machinery has a 52-week low of $11.68 and a 52-week high of $25.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.34 and a current ratio of 1.66.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, May 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The company had revenue of $245.70 million for the quarter, compared to the consensus estimate of $275.70 million. Titan Machinery had a negative return on equity of 0.08% and a negative net margin of 0.23%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same period last year, the business posted ($0.19) earnings per share. sell-side analysts predict that Titan Machinery will post 0.41 earnings per share for the current year.

In other news, Director Stan K. Erickson bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The shares were acquired at an average cost of $18.06 per share, with a total value of $54,180.00. Following the completion of the transaction, the director now directly owns 16,495 shares in the company, valued at $297,899.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.46% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in TITN. Renaissance Technologies LLC grew its position in Titan Machinery by 839.2% during the fourth quarter. Renaissance Technologies LLC now owns 379,447 shares of the company’s stock worth $8,033,000 after buying an additional 339,047 shares in the last quarter. Millennium Management LLC grew its position in Titan Machinery by 2,466.1% during the fourth quarter. Millennium Management LLC now owns 269,570 shares of the company’s stock worth $5,707,000 after buying an additional 259,065 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in Titan Machinery during the first quarter worth about $4,681,000. Mackay Shields LLC acquired a new stake in Titan Machinery during the first quarter worth about $4,227,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Titan Machinery by 12.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,437,095 shares of the company’s stock valued at $33,858,000 after purchasing an additional 159,478 shares in the last quarter. 83.44% of the stock is currently owned by institutional investors and hedge funds.

About Titan Machinery

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 family of brands, as well as equipment from various other manufacturers.

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