BidaskClub Lowers Titan Machinery (NASDAQ:TITN) to Hold

BidaskClub cut shares of Titan Machinery (NASDAQ:TITN) from a buy rating to a hold rating in a research note released on Saturday, BidAskClub reports.

TITN has been the subject of a number of other reports. Zacks Investment Research raised Titan Machinery from a hold rating to a strong-buy rating and set a $19.00 price target for the company in a research note on Tuesday, June 4th. ValuEngine raised Titan Machinery from a hold rating to a buy rating in a research note on Thursday, June 27th. Finally, Robert W. Baird raised Titan Machinery from a neutral rating to an outperform rating and lifted their target price for the company from $18.00 to $24.00 in a research report on Sunday, June 16th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $21.50.

Shares of TITN stock opened at $18.99 on Friday. Titan Machinery has a 52-week low of $11.99 and a 52-week high of $21.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.31. The company has a market cap of $442.35 million, a price-to-earnings ratio of 28.34 and a beta of 2.13. The business’s 50 day simple moving average is $19.85.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.07. Titan Machinery had a return on equity of 5.06% and a net margin of 1.03%. The firm had revenue of $278.29 million during the quarter, compared to analyst estimates of $250.38 million. During the same period last year, the company earned ($0.07) EPS. Titan Machinery’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities research analysts anticipate that Titan Machinery will post 0.89 earnings per share for the current fiscal year.

In other Titan Machinery news, COO Bryan J. Knutson sold 3,711 shares of Titan Machinery stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $19.71, for a total transaction of $73,143.81. Following the completion of the sale, the chief operating officer now directly owns 28,315 shares of the company’s stock, valued at approximately $558,088.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tony Christianson sold 22,000 shares of Titan Machinery stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $19.63, for a total value of $431,860.00. Following the sale, the director now directly owns 42,076 shares of the company’s stock, valued at $825,951.88. The disclosure for this sale can be found here. Insiders own 15.37% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Aperio Group LLC bought a new stake in Titan Machinery during the 2nd quarter valued at $29,000. Public Employees Retirement System of Ohio increased its holdings in shares of Titan Machinery by 51.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,534 shares of the company’s stock valued at $33,000 after acquiring an additional 866 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Titan Machinery by 33.3% in the 4th quarter. Macquarie Group Ltd. now owns 3,199 shares of the company’s stock valued at $42,000 after acquiring an additional 800 shares during the period. Legal & General Group Plc increased its holdings in shares of Titan Machinery by 51.7% in the 4th quarter. Legal & General Group Plc now owns 4,110 shares of the company’s stock valued at $55,000 after acquiring an additional 1,400 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Titan Machinery by 108.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,143 shares of the company’s stock valued at $64,000 after acquiring an additional 2,151 shares during the period. 79.22% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: How to Track your Portfolio in Google Finance

Receive News & Ratings for Titan Machinery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Machinery and related companies with MarketBeat.com's FREE daily email newsletter.