BidaskClub Downgrades Titan Machinery (NASDAQ:TITN) to Hold

Posted by James Conley on Dec 4th, 2019

BidaskClub downgraded shares of Titan Machinery (NASDAQ:TITN) from a buy rating to a hold rating in a report issued on Saturday, BidAskClub reports.

A number of other analysts have also issued reports on TITN. Stephens reiterated a hold rating and set a $23.00 price objective on shares of Titan Machinery in a research note on Wednesday, November 27th. ValuEngine raised Titan Machinery from a sell rating to a hold rating in a report on Friday, November 29th. Finally, Zacks Investment Research downgraded Titan Machinery from a hold rating to a strong sell rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $22.00.

TITN opened at $13.05 on Friday. Titan Machinery has a 12 month low of $11.99 and a 12 month high of $21.88. The company has a market cap of $301.11 million, a PE ratio of 19.48 and a beta of 2.30. The company has a current ratio of 1.40, a quick ratio of 0.26 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $16.49 and a 200 day moving average of $17.05.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Tuesday, November 26th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.03). The business had revenue of $360.90 million for the quarter, compared to the consensus estimate of $373.65 million. Titan Machinery had a net margin of 0.85% and a return on equity of 4.91%. The company’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS. Research analysts forecast that Titan Machinery will post 0.82 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Wedge Capital Management L L P NC lifted its stake in Titan Machinery by 7.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 66,242 shares of the company’s stock worth $950,000 after purchasing an additional 4,464 shares in the last quarter. Granahan Investment Management Inc. MA increased its holdings in shares of Titan Machinery by 12.5% in the third quarter. Granahan Investment Management Inc. MA now owns 825,142 shares of the company’s stock worth $11,833,000 after purchasing an additional 91,802 shares during the period. Alberta Investment Management Corp bought a new position in shares of Titan Machinery in the third quarter worth $171,000. Boston Partners raised its position in shares of Titan Machinery by 10.7% in the second quarter. Boston Partners now owns 20,636 shares of the company’s stock worth $425,000 after buying an additional 2,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Titan Machinery by 80.3% in the third quarter. Assenagon Asset Management S.A. now owns 91,548 shares of the company’s stock worth $1,313,000 after buying an additional 40,779 shares in the last quarter. 77.05% of the stock is 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 Industrial family of brands, as well as equipment from various other manufacturers.