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

Shares of Titan Machinery Inc. (NASDAQ:TITN) have earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $21.00.

A number of research firms have recently commented on TITN. B. Riley cut their price objective on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Craig Hallum dropped their target price on Titan Machinery from $25.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Northland Capmk downgraded Titan Machinery from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 20th. Lake Street Capital downgraded Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a report on Thursday, August 15th. Finally, Northland Securities restated a “market perform” rating and set a $25.00 price objective on shares of Titan Machinery in a report on Friday, September 13th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Titan Machinery by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,789 shares of the company’s stock worth $318,000 after acquiring an additional 802 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Titan Machinery by 3.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 24,475 shares of the company’s stock valued at $389,000 after purchasing an additional 818 shares during the period. Rhumbline Advisers boosted its position in Titan Machinery by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 34,726 shares of the company’s stock valued at $552,000 after purchasing an additional 987 shares during the period. nVerses Capital LLC boosted its position in Titan Machinery by 118.2% during 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 during the period. Finally, Los Angeles Capital Management LLC boosted its position in Titan Machinery by 18.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 12,347 shares of the company’s stock valued at $306,000 after purchasing an additional 1,920 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Stock Down 1.0 %

Shares of NASDAQ:TITN opened at $14.72 on Thursday. The stock’s 50-day moving average price is $13.98 and its two-hundred day moving average price is $17.25. The company has a current ratio of 1.27, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18. Titan Machinery has a 12-month low of $12.30 and a 12-month high of $29.30. The firm has a market cap of $340.47 million, a price-to-earnings ratio of 5.68 and a beta of 1.26.

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