Titan Machinery Inc. (NASDAQ:TITN) Receives Average Rating of “Hold” from Analysts
Titan Machinery Inc. (NASDAQ:TITN) has received an average rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.00.
Several analysts have weighed in on TITN shares. Zacks Investment Research cut Titan Machinery from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. TheStreet raised Titan Machinery from a “d+” rating to a “c-” rating in a report on Monday, April 10th. ValuEngine raised Titan Machinery from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub cut Titan Machinery from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $18.00 price target on shares of Titan Machinery in a research note on Friday.
In other news, Chairman David Joseph Meyer sold 44,950 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $17.25, for a total value of $775,387.50. Following the completion of the sale, the chairman now directly owns 724,660 shares of the company’s stock, valued at approximately $12,500,385. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 16.08% of the company’s stock.
Several hedge funds have recently made changes to their positions in TITN. State Street Corp boosted its stake in shares of Titan Machinery by 6.8% in the fourth quarter. State Street Corp now owns 297,767 shares of the company’s stock worth $4,339,000 after buying an additional 18,839 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Titan Machinery by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 759,168 shares of the company’s stock worth $11,061,000 after buying an additional 20,115 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Titan Machinery during the fourth quarter worth approximately $1,187,000. Teachers Advisors LLC boosted its stake in shares of Titan Machinery by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 31,879 shares of the company’s stock worth $464,000 after buying an additional 2,050 shares during the period. Finally, Sanders Morris Harris Inc. bought a new stake in shares of Titan Machinery during the first quarter worth approximately $661,000. 80.84% of the stock is owned by institutional investors.
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Titan Machinery (TITN) opened at 17.54 on Friday. The firm has a 50 day moving average of $17.97 and a 200 day moving average of $15.66. Titan Machinery has a one year low of $8.68 and a one year high of $19.22. The firm’s market capitalization is $374.86 million.
Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Thursday, May 25th. The company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The firm had revenue of $264.10 million for the quarter, compared to the consensus estimate of $257 million. Titan Machinery had a negative return on equity of 4.11% and a negative net margin of 1.37%. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.21) earnings per share. Equities analysts forecast that Titan Machinery will post $0.03 EPS for the current year.
About Titan Machinery
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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