Titan Machinery (NASDAQ:TITN) Rating Lowered to Sell at Wall Street Zen

Titan Machinery (NASDAQ:TITN) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other equities analysts have also issued reports about the company. Robert W. Baird reduced their price objective on Titan Machinery from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.50.

Titan Machinery Stock Performance

TITN stock opened at $17.24 on Friday. The company has a quick ratio of 0.24, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The company has a market cap of $402.55 million, a price-to-earnings ratio of -7.24 and a beta of 1.26. The business has a fifty day simple moving average of $17.74 and a 200-day simple moving average of $16.79. Titan Machinery has a 52 week low of $13.21 and a 52 week high of $23.41.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, March 19th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.44). Titan Machinery had a negative net margin of 2.23% and a negative return on equity of 8.40%. The firm had revenue of $641.83 million during the quarter, compared to analyst estimates of $615.53 million.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its position in shares of Titan Machinery by 189.8% in the third quarter. Quarry LP now owns 1,536 shares of the company’s stock worth $26,000 after buying an additional 1,006 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of Titan Machinery during the 3rd quarter valued at about $32,000. Tower Research Capital LLC TRC lifted its position in Titan Machinery by 352.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock worth $52,000 after acquiring an additional 2,043 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Titan Machinery by 94.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,032 shares of the company’s stock worth $67,000 after acquiring an additional 1,957 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Titan Machinery in the 4th quarter worth approximately $101,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Titan Machinery Company Profile

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.