Royce & Associates LP Buys 117,108 Shares of Titan Machinery Inc. $TITN

Royce & Associates LP grew its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 18.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 743,175 shares of the company’s stock after purchasing an additional 117,108 shares during the period. Royce & Associates LP owned approximately 3.18% of Titan Machinery worth $11,177,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TITN. Quarry LP boosted its stake in shares of Titan Machinery by 189.8% during the 3rd quarter. Quarry LP now owns 1,536 shares of the company’s stock valued at $26,000 after purchasing an additional 1,006 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Titan Machinery by 352.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $52,000 after purchasing an additional 2,043 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Titan Machinery by 94.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,032 shares of the company’s stock valued at $67,000 after purchasing an additional 1,957 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Titan Machinery during the 4th quarter valued at about $101,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Titan Machinery by 14.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,341 shares of the company’s stock valued at $140,000 after purchasing an additional 1,063 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Titan Machinery Trading Up 8.3%

NASDAQ:TITN opened at $21.64 on Thursday. Titan Machinery Inc. has a one year low of $13.21 and a one year high of $21.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 0.24. The company’s 50-day simple moving average is $18.98 and its 200 day simple moving average is $17.72. The firm has a market capitalization of $504.43 million, a P/E ratio of -9.09 and a beta of 1.38.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, March 19th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.44). Titan Machinery had a negative return on equity of 8.40% and a negative net margin of 2.23%.The business had revenue of $641.83 million for the quarter, compared to the consensus estimate of $615.53 million. As a group, analysts forecast that Titan Machinery Inc. will post -1.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Robert W. Baird dropped their price objective on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Titan Machinery presently has an average rating of “Reduce” and a consensus price target of $17.00.

Titan Machinery Profile

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.