Titan Machinery (TITN) Rating Lowered to Sell at BidaskClub

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BidaskClub lowered shares of Titan Machinery (NASDAQ:TITN) from a hold rating to a sell rating in a research report report published on Friday, October 19th.

Several other equities research analysts have also recently weighed in on the company. ValuEngine cut Titan Machinery from a buy rating to a hold rating in a report on Wednesday, September 26th. Zacks Investment Research raised Titan Machinery from a hold rating to a strong-buy rating and set a $20.00 price target for the company in a research report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Titan Machinery currently has an average rating of Hold and an average target price of $22.75.

Shares of TITN stock traded down $0.34 during mid-day trading on Friday, hitting $14.60. The stock had a trading volume of 75,173 shares, compared to its average volume of 157,281. Titan Machinery has a 12-month low of $13.28 and a 12-month high of $25.09. The stock has a market capitalization of $340.38 million, a price-to-earnings ratio of -121.67 and a beta of 1.60. The company has a current ratio of 1.43, a quick ratio of 0.29 and a debt-to-equity ratio of 0.07.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, August 30th. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.16. Titan Machinery had a return on equity of 2.16% and a net margin of 0.63%. The business had revenue of $299.89 million during the quarter, compared to analysts’ expectations of $291.08 million. During the same period in the prior year, the business earned ($0.04) EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Research analysts predict that Titan Machinery will post 0.61 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Citigroup Inc. increased its position in Titan Machinery by 794.6% during the 1st quarter. Citigroup Inc. now owns 5,672 shares of the company’s stock valued at $133,000 after buying an additional 5,038 shares in the last quarter. Smith Asset Management Group LP increased its position in Titan Machinery by 190.3% during the 2nd quarter. Smith Asset Management Group LP now owns 9,793 shares of the company’s stock valued at $152,000 after buying an additional 6,420 shares in the last quarter. Trexquant Investment LP purchased a new stake in Titan Machinery during the 3rd quarter valued at about $178,000. Sun Life Financial INC purchased a new stake in Titan Machinery during the 2nd quarter valued at about $187,000. Finally, Gamco Investors INC. ET AL purchased a new stake in Titan Machinery during the 2nd quarter valued at about $311,000. 80.18% of the stock is currently owned by institutional investors.

About Titan Machinery

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

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