Royce & Associates LP Raises Position in Titan Machinery Inc. $TITN

Royce & Associates LP grew its position in Titan Machinery Inc. (NASDAQ:TITN) by 18.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 743,175 shares of the company’s stock after buying an additional 117,108 shares during the period. Royce & Associates LP’s holdings in Titan Machinery were worth $11,177,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bessemer Group Inc. raised its holdings in Titan Machinery by 16.0% in the third quarter. Bessemer Group Inc. now owns 588,215 shares of the company’s stock worth $9,846,000 after buying an additional 81,229 shares during the last quarter. Teton Advisors LLC purchased a new position in Titan Machinery in the third quarter worth about $1,440,000. Stephens Investment Management Group LLC raised its holdings in Titan Machinery by 30.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 559,589 shares of the company’s stock worth $8,416,000 after buying an additional 129,215 shares during the last quarter. EVR Research LP raised its holdings in Titan Machinery by 25.0% in the third quarter. EVR Research LP now owns 250,000 shares of the company’s stock worth $4,185,000 after buying an additional 50,000 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its holdings in Titan Machinery by 16.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 419,450 shares of the company’s stock worth $7,022,000 after buying an additional 58,510 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Titan Machinery Stock Up 8.3%

TITN opened at $21.64 on Thursday. The company has a quick ratio of 0.24, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average price of $18.98 and a 200-day moving average price of $17.72. Titan Machinery Inc. has a twelve month low of $13.21 and a twelve month high of $21.91. The stock has a market capitalization of $504.43 million, a price-to-earnings ratio of -9.09 and a beta of 1.38.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Thursday, March 19th. The company reported ($1.43) earnings per share 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 8.40%. The company had revenue of $641.83 million for the quarter, compared to analysts’ expectations of $615.53 million. Equities research analysts forecast that Titan Machinery Inc. will post -1.73 earnings per share for the current year.

Analyst Ratings Changes

TITN has been the subject of several recent analyst reports. Robert W. Baird decreased their target price on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 20th. Wall Street Zen cut shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $17.00.

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.