Ballentine Partners LLC Purchases Shares of 17,475 Titan Machinery Inc. (NASDAQ:TITN)

Ballentine Partners LLC purchased a new stake in Titan Machinery Inc. (NASDAQ:TITN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,475 shares of the company’s stock, valued at approximately $243,000. Ballentine Partners LLC owned 0.08% of Titan Machinery as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in Titan Machinery by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,789 shares of the company’s stock valued at $318,000 after acquiring an additional 802 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Titan Machinery by 3.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 24,475 shares of the company’s stock worth $389,000 after purchasing an additional 818 shares in the last quarter. Rhumbline Advisers grew its position in shares of 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 in the last quarter. nVerses Capital LLC grew its position in shares of Titan Machinery by 118.2% during the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $38,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Titan Machinery during the 2nd quarter worth approximately $36,000. 78.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on TITN shares. Lake Street Capital lowered shares of Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Thursday, August 15th. Northland Capmk lowered shares of Titan Machinery from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Craig Hallum reduced their price target on shares of Titan Machinery from $25.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Northland Securities reiterated a “market perform” rating and set a $25.00 price target on shares of Titan Machinery in a research report on Friday, September 13th. Finally, Robert W. Baird reduced their price target on shares of Titan Machinery from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.00.

Titan Machinery Stock Performance

Shares of Titan Machinery stock opened at $14.05 on Wednesday. Titan Machinery Inc. has a fifty-two week low of $12.30 and a fifty-two week 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. The firm has a market capitalization of $320.59 million, a P/E ratio of 3.38 and a beta of 1.26. The company’s 50 day moving average price is $14.00 and its two-hundred day moving average price is $16.92.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, August 29th. The company reported $0.17 earnings per share 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 company had revenue of $633.70 million during the quarter, compared to analyst estimates of $645.28 million. During the same quarter in the prior year, the business earned $1.38 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Titan Machinery Inc. will post 0.21 earnings per share for the current fiscal year.

Titan Machinery 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.