SummerHaven Investment Management LLC Purchases 50,487 Shares of Titan Machinery Inc. $TITN

SummerHaven Investment Management LLC purchased a new position in shares of Titan Machinery Inc. (NASDAQ:TITN) during the third quarter, HoldingsChannel.com reports. The fund purchased 50,487 shares of the company’s stock, valued at approximately $1,165,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Titan Machinery during the 2nd quarter valued at about $35,477,000. Nantahala Capital Management LLC purchased a new stake in shares of Titan Machinery in the second quarter worth about $23,930,819. Jupiter Topco LLC purchased a new stake in shares of Titan Machinery in the second quarter worth about $23,822,000. Deutsche Bank AG acquired a new stake in Titan Machinery during the second quarter worth about $12,914,000. Finally, William Blair Investment Management LLC acquired a new stake in Titan Machinery during the second quarter worth about $12,297,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Robert W. Baird set a $29.00 price target on Titan Machinery and gave the company an “outperform” rating in a research report on Monday, August 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Titan Machinery in a report on Friday, September 25th. Finally, Wall Street Zen lowered Titan Machinery from a “hold” rating to a “sell” rating in a research report on Sunday, September 6th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Titan Machinery currently has an average rating of “Hold” and a consensus price target of $29.00.

Titan Machinery Stock Down 2.4%

TITN opened at $22.18 on Friday. Titan Machinery Inc. has a fifty-two week low of $13.21 and a fifty-two week high of $26.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.21 and a current ratio of 1.35. The company has a fifty day moving average of $22.11 and a two-hundred day moving average of $20.63. The stock has a market capitalization of $521.96 million, a price-to-earnings ratio of -8.91 and a beta of 1.41.

Titan Machinery (NASDAQ:TITN) last posted its earnings results on Thursday, August 27th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Titan Machinery had a negative return on equity of 9.17% and a negative net margin of 2.46%. The firm had revenue of $496.38 million for the quarter, compared to analysts’ expectations of $483.78 million. Titan Machinery has set its FY 2027 guidance at -1.750–1.250 EPS. On average, research analysts expect that Titan Machinery Inc. will post -1.67 earnings per share for the current year.

About Titan Machinery

Titan Machinery Inc is a dealer network that sells, rents and supports agricultural and construction equipment. The company primarily operates Case IH agricultural equipment dealerships and CASE Construction Equipment dealerships, offering machinery such as tractors, combines, planters, tillage equipment, excavators, loaders and other equipment used by farmers, contractors and other commercial customers.

In addition to equipment sales, Titan Machinery provides parts, maintenance, repair and other after-sales services.