Titan Machinery (TITN) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Titan Machinery (NASDAQ:TITN) from a sell rating to a hold rating in a report issued on Friday morning.

A number of other equities analysts also recently issued reports on TITN. Zacks Investment Research upgraded Titan Machinery from a sell rating to a hold rating in a research note on Wednesday, November 29th. Robert W. Baird reiterated an outperform rating and set a $25.00 price target (up previously from $18.00) on shares of Titan Machinery in a research note on Friday, December 1st. Piper Jaffray Companies set a $19.00 price target on Titan Machinery and gave the company a hold rating in a research note on Friday, December 1st. Finally, William Blair upgraded Titan Machinery from an underperform rating to a market perform rating in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $23.00.

Titan Machinery (NASDAQ TITN) traded up $0.36 during mid-day trading on Friday, reaching $20.68. The company’s stock had a trading volume of 106,713 shares, compared to its average volume of 149,504. The firm has a market cap of $465.01, a P/E ratio of -26.86, a P/E/G ratio of 5.46 and a beta of 1.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 0.33. Titan Machinery has a fifty-two week low of $11.68 and a fifty-two week high of $24.19.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Thursday, November 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.12. The business had revenue of $330.34 million during the quarter, compared to the consensus estimate of $306.74 million. Titan Machinery had a negative return on equity of 2.29% and a negative net margin of 1.44%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) EPS. equities research analysts expect that Titan Machinery will post -0.19 earnings per share for the current year.

In other news, CEO David Joseph Meyer sold 61,796 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total value of $1,350,242.60. Following the transaction, the chief executive officer now owns 715,864 shares in the company, valued at approximately $15,641,628.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.08% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC boosted its stake in shares of Titan Machinery by 14.2% in the 2nd quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock worth $207,000 after buying an additional 1,429 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Titan Machinery by 14.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,622 shares of the company’s stock worth $298,000 after buying an additional 2,054 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Titan Machinery by 29.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock worth $235,000 after buying an additional 2,939 shares during the last quarter. Teton Advisors Inc. boosted its stake in shares of Titan Machinery by 3.4% in the 4th quarter. Teton Advisors Inc. now owns 134,688 shares of the company’s stock worth $2,851,000 after buying an additional 4,455 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Titan Machinery by 34.2% in the 2nd quarter. New York State Common Retirement Fund now owns 21,200 shares of the company’s stock worth $381,000 after buying an additional 5,399 shares during the last quarter. Hedge funds and other institutional investors own 76.33% of the company’s stock.

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Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.

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