PNC Financial Services Group Inc. Buys 4,103 Shares of Titan Machinery Inc. (NASDAQ:TITN)

PNC Financial Services Group Inc. boosted its stake in Titan Machinery Inc. (NASDAQ:TITN) by 91.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,611 shares of the company’s stock after purchasing an additional 4,103 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Titan Machinery were worth $122,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new position in shares of Titan Machinery during the 4th quarter worth about $26,000. Truvestments Capital LLC bought a new position in Titan Machinery during the 3rd quarter worth approximately $41,000. US Bancorp DE grew its holdings in Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company’s stock valued at $55,000 after purchasing an additional 741 shares during the period. FMR LLC increased its stake in 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 purchasing an additional 3,092 shares in the last quarter. Finally, Meixler Investment Management Ltd. bought a new stake in Titan Machinery in the fourth quarter valued at approximately $142,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Stock Up 4.2 %

Shares of TITN stock opened at $17.77 on Tuesday. The company has a market capitalization of $410.95 million, a price-to-earnings ratio of 13.26 and a beta of 1.28. Titan Machinery Inc. has a 12-month low of $12.30 and a 12-month high of $24.89. The firm has a fifty day moving average of $16.77 and a 200-day moving average of $15.15. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TITN. Robert W. Baird decreased their price target on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday. Baird R W upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Titan Machinery currently has a consensus rating of “Hold” and a consensus target price of $19.00.

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.