Royce & Associates LP Buys 70,992 Shares of Titan Machinery Inc. $TITN

Royce & Associates LP increased its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 12.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 626,067 shares of the company’s stock after purchasing an additional 70,992 shares during the period. Royce & Associates LP owned 2.68% of Titan Machinery worth $10,480,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in shares of Titan Machinery by 26.6% in the second quarter. American Century Companies Inc. now owns 1,571,648 shares of the company’s stock worth $31,134,000 after buying an additional 330,436 shares in the last quarter. Vanguard Group Inc. grew its stake in Titan Machinery by 4.1% during the third quarter. Vanguard Group Inc. now owns 1,214,954 shares of the company’s stock valued at $20,338,000 after acquiring an additional 48,343 shares in the last quarter. Bessemer Group Inc. increased its holdings in Titan Machinery by 16.0% during the 3rd quarter. Bessemer Group Inc. now owns 588,215 shares of the company’s stock worth $9,846,000 after acquiring an additional 81,229 shares during the period. Stephens Investment Management Group LLC lifted its stake in Titan Machinery by 12.1% in the 3rd quarter. Stephens Investment Management Group LLC now owns 430,374 shares of the company’s stock worth $7,204,000 after purchasing an additional 46,431 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Titan Machinery by 18.3% in the 2nd quarter. Bank of America Corp DE now owns 297,250 shares of the company’s stock valued at $5,889,000 after purchasing an additional 45,998 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $21.00 price objective (down from $24.00) on shares of Titan Machinery in a research report on Monday, December 1st. Weiss Ratings restated a “sell (d)” rating on shares of Titan Machinery in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised Titan Machinery from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.50.

Titan Machinery Stock Performance

NASDAQ TITN opened at $19.55 on Wednesday. Titan Machinery Inc. has a 52-week low of $12.50 and a 52-week high of $23.41. The company has a fifty day moving average of $17.32 and a 200-day moving average of $17.31. The company has a market capitalization of $456.88 million, a P/E ratio of -7.19 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.24 and a current ratio of 1.36.

Titan Machinery Profile

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.