EVR Research LP Buys 50,000 Shares of Titan Machinery Inc. $TITN

EVR Research LP lifted its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 25.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 250,000 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Titan Machinery makes up approximately 2.5% of EVR Research LP’s holdings, making the stock its 12th biggest holding. EVR Research LP owned about 1.07% of Titan Machinery worth $4,185,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. increased its holdings in Titan Machinery by 26.6% during the 2nd quarter. American Century Companies Inc. now owns 1,571,648 shares of the company’s stock worth $31,134,000 after purchasing an additional 330,436 shares during the period. Bessemer Group Inc. raised its position in Titan Machinery by 16.0% during the 3rd quarter. Bessemer Group Inc. now owns 588,215 shares of the company’s stock valued at $9,846,000 after purchasing an additional 81,229 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in shares of Titan Machinery in the 2nd quarter worth $1,999,000. Teton Advisors LLC bought a new position in shares of Titan Machinery during the 3rd quarter worth $1,440,000. Finally, Boston Partners bought a new position in shares of Titan Machinery during the 2nd quarter worth $508,000. Institutional investors own 78.38% of the company’s stock.

Titan Machinery Trading Down 3.5%

TITN opened at $17.35 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.24 and a debt-to-equity ratio of 0.32. The firm has a market cap of $405.47 million, a price-to-earnings ratio of -6.38 and a beta of 1.23. Titan Machinery Inc. has a 12 month low of $12.50 and a 12 month high of $23.41. The stock has a fifty day moving average price of $17.74 and a 200-day moving average price of $17.27.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TITN. Wall Street Zen upgraded Titan Machinery from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Robert W. Baird reiterated a “neutral” rating and set a $21.00 target price (down from $24.00) on shares of Titan Machinery in a report on Monday, December 1st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Titan Machinery in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.50.

About Titan Machinery

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.