Titan Machinery (NASDAQ:TITN) Stock Rating Lowered by Robert W. Baird

Robert W. Baird cut shares of Titan Machinery (NASDAQ:TITN) from an outperform rating to a neutral rating in a report released on Wednesday morning, Analyst Ratings Network reports. They currently have $41.00 target price on the stock, up from their prior target price of $37.00.

Separately, Zacks Investment Research raised Titan Machinery from a hold rating to a strong-buy rating and set a $33.00 target price for the company in a report on Wednesday, September 1st. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Titan Machinery presently has a consensus rating of Buy and an average price target of $38.50.

Shares of TITN opened at $33.85 on Wednesday. Titan Machinery has a 12-month low of $17.92 and a 12-month high of $38.58. The business has a 50-day simple moving average of $29.11 and a two-hundred day simple moving average of $28.95. The company has a quick ratio of 0.54, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $764.87 million, a PE ratio of 23.51 and a beta of 1.74.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Tuesday, November 23rd. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.28. Titan Machinery had a return on equity of 11.04% and a net margin of 2.10%. The business had revenue of $454.00 million during the quarter, compared to analysts’ expectations of $429.88 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts expect that Titan Machinery will post 2.13 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Titan Machinery by 3.8% in the 3rd quarter. BlackRock Inc. now owns 1,407,430 shares of the company’s stock valued at $36,467,000 after buying an additional 50,907 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Titan Machinery by 13.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,108,618 shares of the company’s stock valued at $34,301,000 after buying an additional 129,073 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Titan Machinery by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 802,618 shares of the company’s stock valued at $20,796,000 after buying an additional 18,463 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Titan Machinery by 5.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 724,911 shares of the company’s stock valued at $18,783,000 after buying an additional 37,896 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Titan Machinery by 3.3% in the 3rd quarter. Morgan Stanley now owns 354,678 shares of the company’s stock valued at $9,191,000 after buying an additional 11,415 shares during the last quarter. Hedge funds and other institutional investors own 78.76% of the company’s stock.

About Titan Machinery

Titan Machinery, Inc engages in the management of agricultural and construction equipment stores. It operates through the following segments: Agriculture, Construction and International. The Agriculture segment sells services and rents machinery and related parts and attachments, for uses from large-scale farming to home and garden use in North America.

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