Baird R W upgraded shares of Titan Machinery (NASDAQ:TITN – Free Report) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.
Separately, Robert W. Baird raised Titan Machinery from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $14.00 to $25.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Titan Machinery currently has an average rating of “Hold” and a consensus price target of $19.20.
Read Our Latest Research Report on TITN
Titan Machinery Stock Performance
Titan Machinery (NASDAQ:TITN – Get Free Report) last posted its earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. The firm had revenue of $679.80 million for the quarter, compared to analyst estimates of $675.30 million. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 earnings per share. As a group, research analysts forecast that Titan Machinery will post 0.05 earnings per share for the current year.
Institutional Trading of Titan Machinery
Several hedge funds and other institutional investors have recently modified their holdings of TITN. R Squared Ltd acquired a new stake in shares of Titan Machinery in the fourth quarter valued at about $26,000. Truvestments Capital LLC acquired a new stake in shares of Titan Machinery in the third quarter valued at about $41,000. US Bancorp DE increased its position in shares of 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 acquiring an additional 1,677 shares during the last quarter. FMR LLC increased its position in shares of Titan Machinery by 142.5% in the third quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $73,000 after acquiring an additional 3,092 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Titan Machinery in the third quarter valued at about $105,000. Institutional investors and hedge funds own 78.38% of the company’s stock.
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.
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