Titan Machinery Inc. (NASDAQ:TITN) Given Average Rating of “Hold” by Brokerages

Titan Machinery Inc. (NASDAQ:TITN) has earned a consensus recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Five equities research 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 issued ratings on the stock in the last year is $21.00.

A number of brokerages have recently weighed in on TITN. 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. Robert W. Baird cut their price target on shares of Titan Machinery from $18.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Lake Street Capital lowered shares of 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. Northland Capmk downgraded shares of Titan Machinery from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 20th. Finally, Craig Hallum decreased their price target on shares of Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th.

Titan Machinery Stock Down 1.3 %

Shares of TITN opened at $14.44 on Monday. The company’s 50-day moving average price is $14.08 and its 200 day moving average price is $16.16. Titan Machinery has a 12-month low of $12.30 and a 12-month high of $29.30. 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 cap of $333.97 million, a P/E ratio of 5.58 and a beta of 1.25.

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

Institutional Investors Weigh In On Titan Machinery

A number of hedge funds and other institutional investors have recently modified their holdings of TITN. BNP Paribas Financial Markets raised its stake in Titan Machinery by 31.7% in the first quarter. BNP Paribas Financial Markets now owns 65,535 shares of the company’s stock valued at $1,626,000 after buying an additional 15,766 shares in the last quarter. Sei Investments Co. lifted its stake in Titan Machinery by 5.6% during the first quarter. Sei Investments Co. now owns 286,964 shares of the company’s stock worth $7,120,000 after purchasing an additional 15,163 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Titan Machinery in the first quarter valued at approximately $276,000. First Eagle Investment Management LLC increased its stake in Titan Machinery by 22.0% in the first quarter. First Eagle Investment Management LLC now owns 240,261 shares of the company’s stock valued at $5,961,000 after purchasing an additional 43,400 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Titan Machinery by 0.8% during the first quarter. Vanguard Group Inc. now owns 1,164,276 shares of the company’s stock worth $28,886,000 after purchasing an additional 9,548 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.