Titan Machinery Inc. (NASDAQ:TITN) Receives $45.33 Average PT from Analysts

Shares of Titan Machinery Inc. (NASDAQ:TITN) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $35.80.

A number of equities research analysts have commented on the company. Robert W. Baird decreased their price target on Titan Machinery from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday. TheStreet downgraded Titan Machinery from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Craig Hallum cut their price objective on shares of Titan Machinery from $30.00 to $25.00 and set a “buy” rating for the company in a report on Friday. Finally, StockNews.com downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Friday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TITN. SummerHaven Investment Management LLC raised its stake in Titan Machinery by 1.7% during the fourth quarter. SummerHaven Investment Management LLC now owns 23,303 shares of the company’s stock valued at $673,000 after purchasing an additional 391 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Titan Machinery by 3.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,252 shares of the company’s stock valued at $432,000 after buying an additional 469 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Titan Machinery by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,789 shares of the company’s stock valued at $318,000 after buying an additional 802 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Titan Machinery by 0.5% in the 3rd quarter. Deutsche Bank AG now owns 284,603 shares of the company’s stock valued at $7,565,000 after acquiring an additional 1,312 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Titan Machinery by 13.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 11,583 shares of the company’s stock worth $335,000 after acquiring an additional 1,379 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Titan Machinery Stock Down 5.5 %

TITN stock opened at $18.66 on Monday. The business’s 50-day moving average price is $23.40 and its 200-day moving average price is $25.43. The stock has a market cap of $425.82 million, a P/E ratio of 4.48 and a beta of 1.41. Titan Machinery has a twelve month low of $18.49 and a twelve month high of $35.88. The company has a quick ratio of 0.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.16.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, May 23rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.26). The firm had revenue of $628.70 million for the quarter, compared to analysts’ expectations of $664.18 million. Titan Machinery had a net margin of 3.37% and a return on equity of 15.15%. On average, equities research analysts forecast that Titan Machinery will post 2.5 EPS for the current year.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.