Titan Machinery Inc. (NASDAQ:TITN) Given Average Recommendation of “Hold” by Brokerages

Shares of Titan Machinery Inc. (NASDAQ:TITN) have received a consensus recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $20.17.

A number of research analysts recently weighed in on TITN shares. Robert W. Baird lowered their price objective on shares of Titan Machinery from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Northland Capmk downgraded Titan Machinery from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 20th. Lake Street Capital cut Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research report on Thursday, August 15th. Northland Securities cut Titan Machinery from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $33.00 to $15.00 in a report on Tuesday, August 20th. Finally, B. Riley cut shares of Titan Machinery from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $32.00 to $20.00 in a research note on Wednesday, June 5th.

Hedge Funds Weigh In On Titan Machinery

A number of institutional investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC lifted its position in shares of Titan Machinery by 1.7% in the 4th quarter. SummerHaven Investment Management LLC now owns 23,303 shares of the company’s stock worth $673,000 after purchasing an additional 391 shares during the period. Fisher Asset Management LLC raised its position in Titan Machinery by 53.7% during the fourth quarter. Fisher Asset Management LLC now owns 59,257 shares of the company’s stock valued at $1,711,000 after acquiring an additional 20,703 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Titan Machinery in the fourth quarter valued at approximately $301,000. Summit Global Investments boosted its position in Titan Machinery by 20.6% in the 4th quarter. Summit Global Investments now owns 46,255 shares of the company’s stock worth $1,336,000 after purchasing an additional 7,900 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Titan Machinery by 9.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 327,011 shares of the company’s stock worth $9,444,000 after purchasing an additional 28,719 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Titan Machinery Stock Performance

TITN stock opened at $14.09 on Wednesday. The stock’s 50 day simple moving average is $15.76 and its 200 day simple moving average is $20.44. 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 has a 12-month low of $12.30 and a 12-month high of $34.99. The stock has a market capitalization of $321.53 million, a PE ratio of 3.39 and a beta of 1.31.

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.