Robert W. Baird Downgrades Titan Machinery (TITN) to Neutral

Robert W. Baird lowered shares of Titan Machinery (NASDAQ:TITN) from an outperform rating to a neutral rating in a research note published on Monday, Benzinga reports. The brokerage currently has $18.00 price target on the stock, down from their prior price target of $26.00.

TITN has been the subject of several other reports. ValuEngine cut Titan Machinery from a buy rating to a hold rating in a research report on Monday, February 25th. Zacks Investment Research cut Titan Machinery from a buy rating to a hold rating in a research report on Wednesday, March 13th. TheStreet raised Titan Machinery from a c+ rating to a b rating in a research report on Wednesday, February 13th. Finally, BidaskClub raised Titan Machinery from a hold rating to a buy rating in a research report on Tuesday, January 15th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Titan Machinery presently has an average rating of Hold and a consensus target price of $20.00.

Shares of TITN stock traded up $0.21 on Monday, hitting $14.88. 56 shares of the stock were exchanged, compared to its average volume of 178,944. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.52 and a quick ratio of 0.36. The stock has a market capitalization of $375.06 million, a P/E ratio of 21.90 and a beta of 2.18. Titan Machinery has a fifty-two week low of $11.99 and a fifty-two week high of $21.52.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Wednesday, March 27th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). Titan Machinery had a net margin of 0.96% and a return on equity of 4.46%. The company had revenue of $359.60 million for the quarter, compared to analyst estimates of $356.05 million. During the same period last year, the company posted ($0.10) earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts expect that Titan Machinery will post 0.85 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in Titan Machinery by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,865,197 shares of the company’s stock valued at $24,527,000 after buying an additional 7,490 shares during the period. BlackRock Inc. raised its stake in Titan Machinery by 7.5% in the first quarter. BlackRock Inc. now owns 1,486,546 shares of the company’s stock valued at $23,131,000 after buying an additional 103,307 shares during the period. JPMorgan Chase & Co. raised its stake in Titan Machinery by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 1,193,116 shares of the company’s stock valued at $18,476,000 after buying an additional 28,882 shares during the period. Vanguard Group Inc. raised its stake in Titan Machinery by 2.9% in the third quarter. Vanguard Group Inc. now owns 879,288 shares of the company’s stock valued at $13,615,000 after buying an additional 24,580 shares during the period. Finally, Vanguard Group Inc raised its stake in Titan Machinery by 2.9% in the third quarter. Vanguard Group Inc now owns 879,288 shares of the company’s stock valued at $13,615,000 after buying an additional 24,580 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.

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