Titan Machinery Inc. (NASDAQ:TITN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Titan Machinery represents a diversified mix of agricultural, construction, and consumer products dealerships located in the upper Midwest. Their Shared Resource Headquarters is located in the heart of the Red River Valley in Fargo, ND. Titan Machinery is a dealer for Case IH, Case Construction, New Holland, and New Holland Construction. Titan Machinery also represents shortline equipment to meet specialized customer demand and niche product needs. “

Other research analysts also recently issued reports about the company. Piper Jaffray Companies set a $18.00 price objective on Titan Machinery and gave the stock a “hold” rating in a report on Friday, August 4th. ValuEngine upgraded Titan Machinery from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub downgraded Titan Machinery from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Robert W. Baird set a $18.00 price objective on Titan Machinery and gave the stock a “buy” rating in a report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $18.50.

Shares of Titan Machinery (TITN) opened at 12.71 on Thursday. The stock’s market capitalization is $271.64 million. The company has a 50-day moving average price of $16.45 and a 200 day moving average price of $16.03. Titan Machinery has a 52 week low of $8.68 and a 52 week high of $19.22.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, August 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.03. The business had revenue of $268.87 million for the quarter, compared to the consensus estimate of $260.08 million. Titan Machinery had a negative return on equity of 3.67% and a negative net margin of 1.61%. Titan Machinery’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) earnings per share. Equities analysts forecast that Titan Machinery will post ($0.17) EPS for the current fiscal year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alambic Investment Management L.P. increased its holdings in Titan Machinery by 79.2% during the 1st quarter. Alambic Investment Management L.P. now owns 54,181 shares of the company’s stock worth $831,000 after purchasing an additional 23,946 shares during the period. Hancock Holding Co. purchased a new position in Titan Machinery during the 1st quarter worth $199,000. Oxford Asset Management purchased a new position in Titan Machinery during the 1st quarter worth $168,000. JPMorgan Chase & Co. increased its holdings in Titan Machinery by 35.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,214,699 shares of the company’s stock worth $18,634,000 after purchasing an additional 318,205 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Titan Machinery by 9.3% in the 1st quarter. Russell Investments Group Ltd. now owns 225,541 shares of the company’s stock valued at $3,460,000 after acquiring an additional 19,200 shares during the period. Institutional investors own 77.45% of the company’s stock.

About Titan Machinery

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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