Titan Machinery Inc. (NASDAQ:TITN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Titan Machinery Inc. (NASDAQ:TITN) have received an average recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is $31.75.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded Titan Machinery from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, May 27th. Stephens upgraded Titan Machinery from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $26.00 to $40.00 in a research note on Friday, May 28th. Finally, Robert W. Baird raised their target price on Titan Machinery from $31.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, May 27th.

In other news, CEO David Joseph Meyer sold 100,000 shares of the stock in a transaction dated Friday, May 28th. The shares were sold at an average price of $31.31, for a total transaction of $3,131,000.00. Following the transaction, the chief executive officer now owns 212,864 shares of the company’s stock, valued at $6,664,771.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tony Christianson sold 10,401 shares of the stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $32.78, for a total transaction of $340,944.78. Following the transaction, the director now directly owns 50,325 shares in the company, valued at approximately $1,649,653.50. The disclosure for this sale can be found here. Insiders have sold 221,182 shares of company stock valued at $7,012,253 over the last 90 days. Insiders own 15.37% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Jackson Creek Investment Advisors LLC bought a new position in shares of Titan Machinery during the first quarter worth about $320,000. Principal Financial Group Inc. bought a new position in shares of Titan Machinery during the first quarter worth about $15,458,000. Millennium Management LLC bought a new position in shares of Titan Machinery during the first quarter worth about $237,000. Capital Impact Advisors LLC bought a new position in shares of Titan Machinery during the first quarter worth about $537,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Titan Machinery by 10.6% during the first quarter. Cubist Systematic Strategies LLC now owns 31,292 shares of the company’s stock worth $798,000 after purchasing an additional 3,004 shares during the last quarter. 73.66% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ TITN traded down $0.81 during trading hours on Friday, hitting $28.76. The company had a trading volume of 1,884 shares, compared to its average volume of 191,181. Titan Machinery has a fifty-two week low of $10.44 and a fifty-two week high of $35.24. The stock has a market cap of $647.68 million, a P/E ratio of 24.24 and a beta of 1.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.90 and a quick ratio of 0.56. The business’s 50 day moving average is $29.53.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Wednesday, May 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.30. Titan Machinery had a return on equity of 9.58% and a net margin of 1.88%. The firm had revenue of $372.70 million during the quarter, compared to the consensus estimate of $337.65 million. Titan Machinery’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, equities analysts predict that Titan Machinery will post 1.77 EPS for the current fiscal 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 and Europe. It operates through three segments: Agriculture, Construction, and International. 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.

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