Robert W. Baird Upgrades Titan Machinery (NASDAQ:TITN) to “Outperform”

Titan Machinery (NASDAQ:TITN) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage presently has a $25.00 price target on the stock, up from their prior price target of $14.00. Robert W. Baird’s target price points to a potential upside of 38.05% from the company’s current price.

Titan Machinery Stock Performance

Shares of TITN stock opened at $18.11 on Monday. The company’s fifty day moving average price is $14.81 and its 200-day moving average price is $14.73. The stock has a market cap of $418.88 million, a PE ratio of 13.52 and a beta of 1.30. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. Titan Machinery has a 12 month low of $12.30 and a 12 month high of $28.29.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The business had revenue of $679.80 million for the quarter, compared to analysts’ expectations of $675.30 million. During the same quarter in the prior year, the company earned $1.32 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts expect that Titan Machinery will post 0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TITN. Empowered Funds LLC grew its holdings in Titan Machinery by 5.1% during the 4th quarter. Empowered Funds LLC now owns 20,000 shares of the company’s stock valued at $283,000 after buying an additional 962 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Titan Machinery in the fourth quarter worth about $26,000. Sanctuary Advisors LLC grew its holdings in Titan Machinery by 53.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,550 shares of the company’s stock valued at $387,000 after buying an additional 8,942 shares in the last quarter. Barclays PLC increased its stake in Titan Machinery by 287.0% in the 3rd quarter. Barclays PLC now owns 31,872 shares of the company’s stock worth $444,000 after acquiring an additional 23,637 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Titan Machinery by 54.8% during the 3rd quarter. M&T Bank Corp now owns 35,468 shares of the company’s stock worth $495,000 after acquiring an additional 12,556 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.