Titan Machinery (NASDAQ:TITN) Rating Lowered to Market Perform at Northland Securities

Titan Machinery (NASDAQ:TITN) was downgraded by analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $15.00 price objective on the stock, down from their previous price objective of $33.00. Northland Securities’ target price points to a potential upside of 7.37% from the company’s previous close.

TITN has been the topic of a number of other reports. Craig Hallum cut their target price on Titan Machinery from $25.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. B. Riley downgraded shares of Titan Machinery from a “buy” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $20.00 in a research report on Wednesday, June 5th. StockNews.com cut shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Robert W. Baird cut their price target on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Finally, Lake Street Capital lowered Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.17.

Titan Machinery Stock Performance

Shares of NASDAQ TITN opened at $13.97 on Tuesday. The company has a quick ratio of 0.15, a current ratio of 1.29 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $16.02 and its two-hundred day moving average price is $20.88. Titan Machinery has a 52-week low of $12.30 and a 52-week high of $34.99. The stock has a market capitalization of $318.80 million, a P/E ratio of 3.36 and a beta of 1.31.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results 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 the consensus estimate of $664.18 million. Titan Machinery had a return on equity of 14.93% and a net margin of 3.37%. As a group, sell-side analysts forecast that Titan Machinery will post 0.25 earnings per share for the current year.

Insider Activity at Titan Machinery

In other news, Director David Joseph Meyer acquired 55,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average price of $18.12 per share, for a total transaction of $996,600.00. Following the completion of the acquisition, the director now directly owns 1,805,000 shares in the company, valued at approximately $32,706,600. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.28% of the company’s stock.

Institutional Investors Weigh In On Titan Machinery

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its holdings in Titan Machinery by 23.5% during the 2nd quarter. AQR Capital Management LLC now owns 164,064 shares of the company’s stock worth $2,609,000 after buying an additional 31,199 shares during the period. Squarepoint Ops LLC increased its position 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 worth $1,394,000 after acquiring an additional 74,209 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Titan Machinery by 39.1% during the second quarter. Gabelli Funds LLC now owns 128,000 shares of the company’s stock valued at $2,035,000 after acquiring an additional 36,000 shares during the period. Sei Investments Co. raised its holdings in shares of Titan Machinery by 6.9% during the second quarter. Sei Investments Co. now owns 306,624 shares of the company’s stock valued at $4,875,000 after acquiring an additional 19,660 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Titan Machinery in the 2nd quarter valued at approximately $37,000. 78.38% of the stock is owned by institutional investors.

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.