Titan Machinery (NASDAQ:TITN – Get Free Report) had its target price reduced by Robert W. Baird from $18.00 to $13.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential downside of 8.64% from the company’s current price.
Several other equities research analysts have also recently weighed in on the stock. Craig Hallum lowered their price target on shares of Titan Machinery from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 24th. B. Riley lowered shares of Titan Machinery from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $20.00 in a research note on Wednesday, June 5th. Finally, StockNews.com lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $21.20.
Check Out Our Latest Research Report on Titan Machinery
Titan Machinery Price Performance
TITN stock opened at $14.23 on Thursday. Titan Machinery has a 12 month low of $12.30 and a 12 month high of $34.99. The company has a current ratio of 1.29, a quick ratio of 0.15 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $16.17 and a 200 day moving average price of $21.15. The stock has a market cap of $324.73 million, a PE ratio of 3.42 and a beta of 1.31.
Titan Machinery (NASDAQ:TITN – Get Free Report) last released its quarterly earnings data on Thursday, May 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.26). The company had revenue of $628.70 million during 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 14.93%. Equities research analysts anticipate that Titan Machinery will post 2.22 earnings per share for the current year.
Insider Activity
In other Titan Machinery news, Director David Joseph Meyer bought 55,000 shares of Titan Machinery stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average cost of $18.12 per share, for a total transaction of $996,600.00. Following the completion of the transaction, the director now directly owns 1,805,000 shares of the company’s stock, valued at $32,706,600. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 10.28% of the company’s stock.
Institutional Investors Weigh In On Titan Machinery
A number of institutional investors have recently made changes to their positions in TITN. American Century Companies Inc. boosted its stake in shares of Titan Machinery by 11.3% in the second quarter. American Century Companies Inc. now owns 1,155,535 shares of the company’s stock valued at $18,373,000 after purchasing an additional 117,577 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Titan Machinery by 39.2% in the second quarter. First Eagle Investment Management LLC now owns 334,511 shares of the company’s stock valued at $5,319,000 after purchasing an additional 94,250 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Titan Machinery by 28.8% in the second quarter. Victory Capital Management Inc. now owns 363,011 shares of the company’s stock valued at $5,772,000 after purchasing an additional 81,248 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Titan Machinery by 552.2% in the second quarter. Squarepoint Ops LLC now owns 87,648 shares of the company’s stock valued at $1,394,000 after purchasing an additional 74,209 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Titan Machinery in the fourth quarter valued at approximately $1,620,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.
Titan Machinery Company Profile
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.
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