Titan Machinery (TITN) Receives Outperform Rating from Robert W. Baird
Robert W. Baird reissued their outperform rating on shares of Titan Machinery (NASDAQ:TITN) in a research report sent to investors on Friday. They currently have a $25.00 price objective on the stock, up from their prior price objective of $18.00.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Titan Machinery from a hold rating to a sell rating in a report on Thursday, September 7th. ValuEngine downgraded Titan Machinery from a hold rating to a sell rating in a report on Friday, September 1st. BidaskClub downgraded Titan Machinery from a buy rating to a hold rating in a report on Saturday, August 5th. Finally, Piper Jaffray Companies reiterated a hold rating on shares of Titan Machinery in a report on Thursday, September 28th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $20.67.
Shares of Titan Machinery (NASDAQ:TITN) traded up $2.57 during midday trading on Friday, reaching $21.57. The company’s stock had a trading volume of 1,010,000 shares, compared to its average volume of 130,008. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.74 and a quick ratio of 0.37. Titan Machinery has a 1-year low of $11.68 and a 1-year high of $21.67.
Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Thursday, November 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.12. Titan Machinery had a negative return on equity of 2.29% and a negative net margin of 1.44%. The business had revenue of $330.34 million for the quarter, compared to the consensus estimate of $306.74 million. During the same period last year, the business posted ($0.01) EPS. The business’s revenue was down .6% compared to the same quarter last year. research analysts expect that Titan Machinery will post -0.21 earnings per share for the current fiscal year.
In related news, Director Stan K. Erickson purchased 8,302 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average cost of $12.50 per share, for a total transaction of $103,775.00. Following the acquisition, the director now owns 13,495 shares of the company’s stock, valued at approximately $168,687.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 16.08% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in Titan Machinery during the 3rd quarter worth $155,000. American International Group Inc. grew its stake in Titan Machinery by 7.2% during the 1st quarter. American International Group Inc. now owns 10,919 shares of the company’s stock worth $167,000 after buying an additional 729 shares during the last quarter. Numeric Investors LLC purchased a new position in Titan Machinery during the 2nd quarter worth $191,000. Voya Investment Management LLC grew its stake in Titan Machinery by 14.2% during the 2nd quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock worth $207,000 after buying an additional 1,429 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in Titan Machinery during the 3rd quarter worth $211,000. Hedge funds and other institutional investors own 76.37% of the company’s stock.
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Titan Machinery Company Profile
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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