Brokerages Set Titan Machinery Inc. (NASDAQ:TITN) Price Target at $21.00

Titan Machinery Inc. (NASDAQ:TITN) has been assigned an average rating of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $21.00.

TITN has been the subject of several recent analyst reports. Northland Securities reiterated a “market perform” rating and set a $25.00 price objective on shares of Titan Machinery in a research note on Friday, September 13th. Lake Street Capital lowered Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research note on Thursday, August 15th. B. Riley dropped their price objective on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Craig Hallum dropped their price objective on Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Robert W. Baird dropped their price objective on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

Institutional Trading of Titan Machinery

A number of hedge funds and other institutional investors have recently made changes to their positions in TITN. American Century Companies Inc. boosted its holdings in Titan Machinery by 11.3% in the second quarter. American Century Companies Inc. now owns 1,155,535 shares of the company’s stock valued at $18,373,000 after acquiring an additional 117,577 shares during the last quarter. Dana Investment Advisors Inc. boosted its holdings in Titan Machinery by 32.9% in the second quarter. Dana Investment Advisors Inc. now owns 384,548 shares of the company’s stock valued at $6,114,000 after acquiring an additional 95,221 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Titan Machinery by 39.2% in the second quarter. First Eagle Investment Management LLC now owns 334,511 shares of the company’s stock valued at $5,319,000 after acquiring an additional 94,250 shares during the last quarter. Victory Capital Management Inc. boosted 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 valued at $5,772,000 after acquiring an additional 81,248 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Titan Machinery by 552.2% in the second quarter. Squarepoint Ops LLC now owns 87,648 shares of the company’s stock valued at $1,394,000 after acquiring an additional 74,209 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery Stock Performance

Shares of NASDAQ TITN opened at $13.56 on Friday. The business has a fifty day simple moving average of $14.93 and a 200 day simple moving average of $18.73. The company has a current ratio of 1.27, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $309.41 million, a price-to-earnings ratio of 3.26 and a beta of 1.26. Titan Machinery has a one year low of $12.30 and a one year high of $29.30.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.09). Titan Machinery had a return on equity of 10.38% and a net margin of 2.11%. The company had revenue of $633.70 million for the quarter, compared to analyst estimates of $645.28 million. During the same quarter in the prior year, the company earned $1.38 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Sell-side analysts expect that Titan Machinery 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.