Brokerages Set Titan Machinery Inc. (NASDAQ:TITN) PT at $21.00

Shares of Titan Machinery Inc. (NASDAQ:TITN) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.00.

Several equities research analysts have recently commented on the stock. Northland Securities restated a “market perform” rating and issued a $25.00 price target on shares of Titan Machinery in a report on Friday, September 13th. Lake Street Capital downgraded shares of Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research note on Thursday, August 15th. Robert W. Baird dropped their target price on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Craig Hallum reduced their price target on Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, B. Riley decreased their price objective on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd.

Institutional Investors Weigh In On Titan Machinery

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Titan Machinery by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,789 shares of the company’s stock valued at $318,000 after buying an additional 802 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Titan Machinery by 3.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 24,475 shares of the company’s stock valued at $389,000 after purchasing an additional 818 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Titan Machinery by 2.9% during the second quarter. Rhumbline Advisers now owns 34,726 shares of the company’s stock worth $552,000 after purchasing an additional 987 shares during the period. nVerses Capital LLC boosted its position in Titan Machinery by 118.2% in the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $38,000 after buying an additional 1,300 shares during the last quarter. Finally, US Bancorp DE boosted its position in Titan Machinery by 116.2% in the third quarter. US Bancorp DE now owns 3,120 shares of the company’s stock valued at $43,000 after buying an additional 1,677 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Titan Machinery Price Performance

Titan Machinery stock opened at $14.19 on Monday. The stock has a market cap of $328.19 million, a price-to-earnings ratio of 5.48 and a beta of 1.25. The firm has a 50-day moving average of $14.04 and a two-hundred day moving average of $16.31. Titan Machinery has a 1 year low of $12.30 and a 1 year high of $29.30. 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 (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 net margin of 2.11% and a return on equity of 10.38%. The firm had revenue of $633.70 million during the quarter, compared to analysts’ expectations of $645.28 million. During the same quarter in the previous year, the firm posted $1.38 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts forecast that Titan Machinery will post 0.21 earnings per share for the current year.

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.