Titan Machinery Inc. (NASDAQ:TITN) Holdings Decreased by William Blair Investment Management LLC

William Blair Investment Management LLC cut its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 930,001 shares of the company’s stock after selling 1,442 shares during the quarter. William Blair Investment Management LLC’s holdings in Titan Machinery were worth $14,787,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TITN. American Century Companies Inc. raised its holdings in shares of Titan Machinery by 11.3% during the second quarter. American Century Companies Inc. now owns 1,155,535 shares of the company’s stock worth $18,373,000 after purchasing an additional 117,577 shares during the period. Quest Partners LLC acquired a new stake in Titan Machinery during the second quarter worth about $281,000. Victory Capital Management Inc. lifted its holdings in Titan Machinery by 28.8% in the second quarter. Victory Capital Management Inc. now owns 363,011 shares of the company’s stock worth $5,772,000 after acquiring an additional 81,248 shares during the last quarter. Rhumbline Advisers boosted its stake in Titan Machinery by 2.9% in the second quarter. Rhumbline Advisers now owns 34,726 shares of the company’s stock valued at $552,000 after acquiring an additional 987 shares during the period. Finally, Waterfront Wealth Inc. bought a new position in shares of Titan Machinery during the second quarter valued at approximately $177,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Northland Securities reissued a “market perform” rating and issued a $25.00 price target on shares of Titan Machinery in a report on Friday. Northland Capmk downgraded shares of Titan Machinery from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 20th. StockNews.com lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Lake Street Capital downgraded shares of Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research report on Thursday, August 15th. Finally, B. Riley decreased their target price on shares of Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.00.

Titan Machinery Price Performance

Shares of NASDAQ TITN opened at $13.39 on Tuesday. The stock has a market cap of $305.53 million, a P/E ratio of 3.22 and a beta of 1.26. The firm’s 50-day simple moving average is $15.21 and its 200 day simple moving average is $19.22. 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 quick ratio of 0.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.18.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, August 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.09). The company had revenue of $633.70 million for the quarter, compared to analyst estimates of $645.28 million. Titan Machinery had a net margin of 2.11% and a return on equity of 10.38%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 EPS. Equities analysts expect that Titan Machinery Inc. will post 0.21 EPS for the current year.

Titan Machinery Company 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.