Los Angeles Capital Management LLC Purchases 1,920 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Los Angeles Capital Management LLC grew its position in Titan Machinery Inc. (NASDAQ:TITN) by 18.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,347 shares of the company’s stock after acquiring an additional 1,920 shares during the quarter. Los Angeles Capital Management LLC owned 0.05% of Titan Machinery worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TITN. Quent Capital LLC bought a new stake in Titan Machinery in the 4th quarter worth approximately $87,000. Quest Partners LLC purchased a new position in shares of Titan Machinery in the 4th quarter worth approximately $165,000. Corton Capital Inc. purchased a new position in shares of Titan Machinery in the 3rd quarter worth approximately $234,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Titan Machinery in the 3rd quarter worth approximately $239,000. Finally, Caxton Associates LP purchased a new position in shares of Titan Machinery in the 3rd quarter worth approximately $257,000. Institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. B. Riley cut Titan Machinery from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $20.00 in a report on Wednesday, June 5th. Robert W. Baird dropped their target price on Titan Machinery from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, May 24th. StockNews.com cut Titan Machinery from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, Craig Hallum dropped their price objective on Titan Machinery from $30.00 to $25.00 and set a “buy” rating for the company in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Titan Machinery currently has an average rating of “Hold” and an average target price of $31.00.

Titan Machinery Price Performance

Shares of TITN stock opened at $16.24 on Thursday. Titan Machinery Inc. has a twelve month low of $15.65 and a twelve month high of $34.99. The stock has a market capitalization of $370.60 million, a price-to-earnings ratio of 3.90 and a beta of 1.39. The stock has a fifty day simple moving average of $20.25 and a two-hundred day simple moving average of $24.06. The company has a current ratio of 1.29, a quick ratio of 0.15 and a debt-to-equity ratio of 0.16.

Titan Machinery (NASDAQ:TITN) last issued its earnings results 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). Titan Machinery had a return on equity of 14.93% and a net margin of 3.37%. The firm had revenue of $628.70 million during the quarter, compared to analysts’ expectations of $664.18 million. On average, analysts predict that Titan Machinery Inc. will post 2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Joseph Meyer purchased 55,000 shares of Titan Machinery stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $18.12 per share, with a total value of $996,600.00. Following the transaction, the director now owns 1,805,000 shares in the company, valued at approximately $32,706,600. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 10.28% of the company’s stock.

Titan Machinery 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.