Barclays PLC Grows Stake in Titan Machinery Inc. (NASDAQ:TITN)

Barclays PLC grew its position in Titan Machinery Inc. (NASDAQ:TITN) by 287.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,872 shares of the company’s stock after purchasing an additional 23,637 shares during the quarter. Barclays PLC’s holdings in Titan Machinery were worth $444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in shares of Titan Machinery in the second quarter valued at about $37,000. nVerses Capital LLC raised its holdings in shares of Titan Machinery by 118.2% in the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $38,000 after purchasing an additional 1,300 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Titan Machinery in the 3rd quarter worth approximately $41,000. US Bancorp DE lifted its position in shares of Titan Machinery by 116.2% in the 3rd quarter. US Bancorp DE now owns 3,120 shares of the company’s stock worth $43,000 after purchasing an additional 1,677 shares during the period. Finally, FMR LLC boosted its stake in shares of Titan Machinery by 142.5% during 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. Institutional investors own 78.38% of the company’s stock.

Titan Machinery Trading Up 1.1 %

NASDAQ TITN opened at $14.00 on Friday. Titan Machinery Inc. has a 12-month low of $12.30 and a 12-month high of $28.29. The company has a fifty day simple moving average of $14.55 and a two-hundred day simple moving average of $14.81. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. The stock has a market cap of $323.76 million, a P/E ratio of 10.45 and a beta of 1.30.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The company had revenue of $679.80 million during the quarter, compared to analyst estimates of $675.30 million. During the same quarter last year, the business posted $1.32 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. On average, analysts forecast that Titan Machinery Inc. will post 0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Northland Securities reissued a “market perform” rating and issued a $25.00 price target on shares of Titan Machinery in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.00.

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.