Zacks Investment Research upgraded shares of Titan Machinery (NASDAQ:TITN) from a sell rating to a hold rating in a research note released on Wednesday.

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. “

A number of other research firms have also weighed in on TITN. Piper Jaffray Companies reiterated a hold rating on shares of Titan Machinery in a research note on Thursday, September 28th. ValuEngine upgraded Titan Machinery from a sell rating to a hold rating in a research note on Thursday, September 7th. Robert W. Baird set a $18.00 price objective on Titan Machinery and gave the company a buy rating in a research note on Thursday, August 24th. Finally, BidaskClub lowered Titan Machinery from a buy rating to a hold rating in a research note on Saturday, August 5th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Titan Machinery currently has a consensus rating of Hold and a consensus target price of $20.67.

Shares of Titan Machinery (TITN) traded up $2.57 on Wednesday, reaching $21.57. The company’s stock had a trading volume of 1,010,000 shares, compared to its average volume of 130,008. Titan Machinery has a 12 month low of $11.68 and a 12 month high of $21.67. The company has a quick ratio of 0.37, a current ratio of 1.74 and a debt-to-equity ratio of 0.38.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, November 30th. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.12. Titan Machinery had a negative return on equity of 2.29% and a negative net margin of 1.44%. The company had revenue of $330.34 million during the quarter, compared to analysts’ expectations of $306.74 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The firm’s revenue was down .6% compared to the same quarter last year. equities research analysts expect that Titan Machinery will post -0.21 earnings per share for the current year.

In related news, Director Stan K. Erickson acquired 8,302 shares of Titan Machinery stock in a transaction on Wednesday, September 6th. The stock was acquired at an average price of $12.50 per share, for a total transaction of $103,775.00. Following the purchase, the director now owns 13,495 shares of the company’s stock, valued at approximately $168,687.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 16.08% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TITN. Public Employees Retirement System of Ohio purchased a new position in shares of Titan Machinery during the 3rd quarter valued at about $155,000. American International Group Inc. increased its stake in shares of Titan Machinery by 7.2% in the 1st quarter. American International Group Inc. now owns 10,919 shares of the company’s stock valued at $167,000 after purchasing an additional 729 shares in the last quarter. Numeric Investors LLC purchased a new position in shares of Titan Machinery in the 2nd quarter valued at about $191,000. Voya Investment Management LLC increased its stake in shares of Titan Machinery by 14.2% in the 2nd quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock valued at $207,000 after purchasing an additional 1,429 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Titan Machinery in the 3rd quarter valued at about $211,000. Institutional investors and hedge funds own 76.37% of the company’s stock.

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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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