Titan Machinery Inc. (NASDAQ:TITN) Receives $20.50 Average Target Price from Analysts
by Tristan Rich · The Markets DailyTitan Machinery Inc. (NASDAQ:TITN – Get Free Report) has received an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.50.
A number of analysts recently issued reports on the company. Robert W. Baird lowered their target price on Titan Machinery from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Wall Street Zen raised Titan Machinery from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Titan Machinery in a research note on Thursday, January 22nd.
View Our Latest Report on TITN
Titan Machinery Stock Performance
Shares of TITN opened at $16.29 on Friday. The stock has a market capitalization of $380.70 million, a price-to-earnings ratio of -6.84 and a beta of 1.22. Titan Machinery has a 12 month low of $13.21 and a 12 month high of $23.41. The firm has a fifty day simple moving average of $17.67 and a 200 day simple moving average of $16.85. The company has a current ratio of 1.36, a quick ratio of 0.24 and a debt-to-equity ratio of 0.32.
Titan Machinery (NASDAQ:TITN – Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.44). Titan Machinery had a negative net margin of 2.23% and a negative return on equity of 8.29%. The business had revenue of $641.83 million during the quarter, compared to analyst estimates of $615.53 million.
Hedge Funds Weigh In On Titan Machinery
Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP increased its holdings in Titan Machinery by 189.8% during 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 last quarter. New York State Teachers Retirement System acquired a new stake in Titan Machinery in the third quarter valued at $32,000. Tower Research Capital LLC TRC grew its position in shares of Titan Machinery by 352.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $52,000 after acquiring an additional 2,043 shares during the period. BNP Paribas Financial Markets grew its position in shares of Titan Machinery by 94.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,032 shares of the company’s stock valued at $67,000 after acquiring an additional 1,957 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Titan Machinery during the 4th quarter worth about $101,000. 78.38% of the stock is owned by 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.