Canada Pension Plan Investment Board Takes $37,000 Position in Titan Machinery Inc. (NASDAQ:TITN)

Canada Pension Plan Investment Board acquired a new stake in Titan Machinery Inc. (NASDAQ:TITN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,300 shares of the company’s stock, valued at approximately $37,000.

Several other hedge funds and other institutional investors have also modified their holdings of TITN. First Eagle Investment Management LLC raised its holdings in shares of Titan Machinery by 39.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 334,511 shares of the company’s stock valued at $5,319,000 after buying an additional 94,250 shares during the period. American Century Companies Inc. raised its holdings in shares of Titan Machinery by 11.3% during the 2nd quarter. American Century Companies Inc. now owns 1,155,535 shares of the company’s stock valued at $18,373,000 after buying an additional 117,577 shares during the period. Quest Partners LLC purchased a new stake in shares of Titan Machinery during the 2nd quarter valued at about $281,000. Victory Capital Management Inc. raised its holdings in shares of Titan Machinery by 28.8% during the 2nd quarter. Victory Capital Management Inc. now owns 363,011 shares of the company’s stock valued at $5,772,000 after buying an additional 81,248 shares during the period. Finally, Rhumbline Advisers increased its holdings in Titan Machinery by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 34,726 shares of the company’s stock worth $552,000 after purchasing an additional 987 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Trading Up 0.8 %

NASDAQ:TITN opened at $14.28 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.13. Titan Machinery Inc. has a 12-month low of $12.30 and a 12-month high of $29.30. The business has a 50 day simple moving average of $14.75 and a 200 day simple moving average of $18.48. The firm has a market capitalization of $330.30 million, a P/E ratio of 3.43 and a beta of 1.26.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.09). Titan Machinery had a return on equity of 10.38% and a net margin of 2.11%. The business had revenue of $633.70 million for the quarter, compared to analyst estimates of $645.28 million. During the same quarter last year, the firm posted $1.38 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Titan Machinery Inc. will post 0.21 EPS for the current year.

Analyst Upgrades and Downgrades

TITN has been the topic of several analyst reports. Lake Street Capital downgraded Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a report on Thursday, August 15th. B. Riley lowered their price target on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Northland Capmk downgraded Titan Machinery from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 20th. Robert W. Baird lowered their price target on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Finally, Northland Securities reiterated a “market perform” rating and issued a $25.00 price target on shares of Titan Machinery in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.00.

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.