Titan Machinery Inc. (NASDAQ:TITN) Given Consensus Rating of “Moderate Buy” by Analysts

Titan Machinery Inc. (NASDAQ:TITN) has received an average recommendation of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $31.00.

A number of brokerages have commented on TITN. Craig Hallum reduced their price objective on Titan Machinery from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Robert W. Baird decreased their price target on shares of Titan Machinery from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. B. Riley lowered shares of Titan Machinery from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, June 5th. Finally, StockNews.com downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, May 24th.

Titan Machinery Stock Up 3.2 %

Titan Machinery stock opened at $16.62 on Tuesday. The company has a market capitalization of $379.27 million, a PE ratio of 4.00 and a beta of 1.32. Titan Machinery has a 12-month low of $14.72 and a 12-month high of $34.99. The firm’s fifty day moving average is $18.39 and its 200 day moving average is $22.89. The company has a quick ratio of 0.15, a current ratio of 1.29 and a debt-to-equity ratio of 0.16.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data 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 company had revenue of $628.70 million for the quarter, compared to analyst estimates of $664.18 million. Titan Machinery had a net margin of 3.37% and a return on equity of 14.93%. As a group, sell-side analysts predict that Titan Machinery will post 2.22 EPS for the current fiscal year.

Insider Transactions at Titan Machinery

In other news, Director David Joseph Meyer purchased 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $18.12 per share, with a total value 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 10.28% of the company’s stock.

Hedge Funds Weigh In On Titan Machinery

Several hedge funds have recently modified their holdings of TITN. Quent Capital LLC purchased a new stake in shares of Titan Machinery during the fourth quarter valued at approximately $87,000. Quest Partners LLC purchased a new stake in shares of Titan Machinery during the 4th quarter valued at $165,000. Los Angeles Capital Management LLC purchased a new stake in shares of Titan Machinery during the 4th quarter valued at $301,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Titan Machinery during the 1st quarter worth $276,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Titan Machinery by 13.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,583 shares of the company’s stock worth $335,000 after buying an additional 1,379 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

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.