Titan Machinery (NASDAQ:TITN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Titan Machinery (NASDAQ:TITN) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

TITN has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Titan Machinery in a report on Friday, September 25th. Robert W. Baird set a $29.00 price objective on shares of Titan Machinery and gave the company an “outperform” rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.00.

Titan Machinery Price Performance

Shares of NASDAQ TITN opened at $23.07 on Friday. The stock’s 50-day moving average is $22.47 and its two-hundred day moving average is $19.82. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.35 and a quick ratio of 0.21. Titan Machinery has a 1-year low of $13.21 and a 1-year high of $26.90. The company has a market cap of $542.91 million, a price-to-earnings ratio of -9.27 and a beta of 1.41.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data 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 net margin of 2.46% and a negative return on equity of 9.17%. The company had revenue of $496.38 million during the quarter, compared to analysts’ expectations of $483.78 million. Titan Machinery has set its FY 2027 guidance at -1.750–1.250 EPS. Analysts forecast that Titan Machinery will post -1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Titan Machinery

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in Titan Machinery in the second quarter valued at approximately $1,306,000. William Blair Investment Management LLC acquired a new stake in Titan Machinery during the second quarter worth approximately $12,297,000. Bank of America Corp DE purchased a new stake in shares of Titan Machinery during the 2nd quarter worth approximately $1,863,000. Nantahala Capital Management LLC purchased a new stake in shares of Titan Machinery during the 2nd quarter worth approximately $23,930,819. Finally, BlackRock Inc. purchased a new stake in shares of Titan Machinery during the 2nd quarter worth approximately $35,477,000. 78.38% of the stock is owned by institutional investors and hedge funds.

About Titan Machinery

Titan Machinery Inc is a regional agricultural and construction equipment dealer headquartered in West Fargo, North Dakota. The company sells and rents new and used equipment, along with replacement parts and related products, and provides repair, maintenance and other support services to commercial and agricultural customers.

Its agricultural offerings include tractors, combines, planting and seeding equipment, sprayers, hay and forage equipment, and other farm machinery. The company also distributes construction equipment used in earthmoving, roadbuilding, material handling and related applications.