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

Titan Machinery Inc. (NASDAQ:TITN) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $21.00.

TITN has been the subject of several research analyst reports. Northland Securities reaffirmed a “market perform” rating and issued a $25.00 price objective on shares of Titan Machinery in a report on Friday, September 13th. B. Riley decreased their price objective on shares of Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. 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 note on Thursday, August 15th. Lake Street Capital downgraded Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research report on Thursday, August 15th. Finally, Craig Hallum lowered their price target on Titan Machinery from $25.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th.

Institutional Investors Weigh In On Titan Machinery

Institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC lifted its position in shares of Titan Machinery by 53.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 25,550 shares of the company’s stock valued at $387,000 after acquiring an additional 8,942 shares in the last quarter. Barclays PLC raised its stake in Titan Machinery by 287.0% during the 3rd quarter. Barclays PLC now owns 31,872 shares of the company’s stock valued at $444,000 after purchasing an additional 23,637 shares during the period. M&T Bank Corp lifted its holdings in shares of Titan Machinery by 54.8% in the third quarter. M&T Bank Corp now owns 35,468 shares of the company’s stock valued at $495,000 after purchasing an additional 12,556 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Titan Machinery by 122.1% in the third quarter. Jane Street Group LLC now owns 56,375 shares of the company’s stock valued at $785,000 after purchasing an additional 30,997 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Titan Machinery in the third quarter worth $483,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Price Performance

NASDAQ TITN opened at $14.98 on Friday. The company has a 50-day moving average price of $14.53 and a two-hundred day moving average price of $15.28. Titan Machinery has a 52 week low of $12.30 and a 52 week high of $29.30. The stock has a market cap of $346.46 million, a price-to-earnings ratio of 11.18 and a beta of 1.30. The company has a current ratio of 1.27, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18.

Titan Machinery (NASDAQ:TITN) last posted its earnings results on Tuesday, November 26th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. Titan Machinery had a return on equity of 5.93% and a net margin of 1.10%. The firm had revenue of $679.80 million for the quarter, compared to analysts’ expectations of $675.30 million. During the same period last year, the firm earned $1.32 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. Analysts forecast that Titan Machinery will post 0.05 EPS for the current year.

About Titan Machinery

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.