Titan Machinery (TITN) Lowered to “Buy” at BidaskClub
Titan Machinery (NASDAQ:TITN) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday.
Other equities analysts have also recently issued research reports about the company. William Blair raised Titan Machinery from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Wednesday, December 6th. Piper Jaffray Companies set a $19.00 price target on Titan Machinery and gave the company a “hold” rating in a report on Friday, December 1st. Finally, Robert W. Baird reissued an “outperform” rating and issued a $25.00 target price (up from $18.00) on shares of Titan Machinery in a report on Friday, December 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $23.00.
Titan Machinery (NASDAQ:TITN) traded up $0.20 during trading on Thursday, reaching $22.64. The company’s stock had a trading volume of 111,858 shares, compared to its average volume of 194,211. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 1.70. The firm has a market cap of $495.80, a PE ratio of -29.03 and a beta of 1.76. Titan Machinery has a 12-month low of $11.68 and a 12-month high of $24.19.
In other news, CEO David Joseph Meyer sold 61,796 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total value of $1,350,242.60. Following the completion of the transaction, the chief executive officer now directly owns 715,864 shares of the company’s stock, valued at approximately $15,641,628.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 16.08% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Titan Machinery in the 3rd quarter worth approximately $155,000. Numeric Investors LLC acquired a new position in shares of Titan Machinery in the 2nd quarter worth approximately $191,000. Voya Investment Management LLC raised its holdings in shares of Titan Machinery by 14.2% in 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 in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Titan Machinery by 29.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock worth $235,000 after buying an additional 2,939 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Titan Machinery in the 3rd quarter worth approximately $211,000. 76.20% of the stock is owned by institutional investors and hedge funds.
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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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