Lake Street Capital Downgrades Titan Machinery (NASDAQ:TITN) to Hold

Titan Machinery (NASDAQ:TITN) was downgraded by equities researchers at Lake Street Capital from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Briefing.com reports. They currently have a $15.00 price objective on the stock. Lake Street Capital’s target price indicates a potential upside of 9.09% from the company’s current price.

A number of other equities analysts have also commented on the company. StockNews.com lowered Titan Machinery from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Robert W. Baird decreased their target price on shares of Titan Machinery from $18.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday. Craig Hallum cut their price target on shares of Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a report on Thursday. Finally, B. Riley cut shares of Titan Machinery from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $21.20.

Titan Machinery Stock Down 10.5 %

TITN traded down $1.62 during trading on Thursday, reaching $13.75. 898,898 shares of the stock were exchanged, compared to its average volume of 223,787. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.15 and a current ratio of 1.29. The stock’s 50 day moving average price is $16.31 and its two-hundred day moving average price is $21.30. Titan Machinery has a twelve month low of $12.40 and a twelve month high of $34.99. The stock has a market cap of $313.78 million, a P/E ratio of 3.43 and a beta of 1.31.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, May 23rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.26). The business had revenue of $628.70 million for the quarter, compared to the consensus estimate of $664.18 million. Titan Machinery had a return on equity of 14.93% and a net margin of 3.37%. Equities analysts expect that Titan Machinery will post 2.22 EPS for the current year.

Insider Activity

In other news, Director David Joseph Meyer purchased 55,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $18.12 per share, with a total value of $996,600.00. Following the completion of the purchase, the director now owns 1,805,000 shares of the company’s stock, valued at approximately $32,706,600. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Titan Machinery

Several hedge funds have recently added to or reduced their stakes in TITN. AQR Capital Management LLC lifted its holdings in Titan Machinery by 23.5% during the 2nd quarter. AQR Capital Management LLC now owns 164,064 shares of the company’s stock worth $2,609,000 after buying an additional 31,199 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Titan Machinery by 552.2% in the second quarter. Squarepoint Ops LLC now owns 87,648 shares of the company’s stock worth $1,394,000 after acquiring an additional 74,209 shares during the period. Gabelli Funds LLC boosted its holdings in Titan Machinery by 39.1% in the second quarter. Gabelli Funds LLC now owns 128,000 shares of the company’s stock valued at $2,035,000 after acquiring an additional 36,000 shares during the last quarter. Sei Investments Co. increased its position in Titan Machinery by 6.9% during the 2nd quarter. Sei Investments Co. now owns 306,624 shares of the company’s stock valued at $4,875,000 after purchasing an additional 19,660 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Titan Machinery during the 2nd quarter worth approximately $37,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.