Bank of America Corp DE Increases Holdings in Titan Machinery Inc. (NASDAQ:TITN)

Bank of America Corp DE grew its position in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 76.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,787 shares of the company's stock after purchasing an additional 66,853 shares during the quarter. Bank of America Corp DE owned approximately 0.66% of Titan Machinery worth $2,173,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. increased its position in shares of Titan Machinery by 0.5% during the 4th quarter. American Century Companies Inc. now owns 1,229,637 shares of the company's stock valued at $17,375,000 after purchasing an additional 5,938 shares during the last quarter. Vanguard Group Inc. grew its position in Titan Machinery by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company's stock worth $16,860,000 after acquiring an additional 4,955 shares during the last quarter. William Blair Investment Management LLC grew its position in Titan Machinery by 2.0% during the 4th quarter. William Blair Investment Management LLC now owns 920,090 shares of the company's stock worth $13,001,000 after acquiring an additional 17,689 shares during the last quarter. Voss Capital LP grew its position in Titan Machinery by 141.7% during the 4th quarter. Voss Capital LP now owns 684,459 shares of the company's stock worth $9,671,000 after acquiring an additional 401,302 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in Titan Machinery by 42.4% during the 4th quarter. First Eagle Investment Management LLC now owns 634,509 shares of the company's stock worth $8,966,000 after acquiring an additional 188,998 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Robert W. Baird reduced their price target on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Northland Capmk upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Northland Securities upgraded Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 price objective on the stock in a research report on Friday, April 11th. B. Riley lifted their price objective on Titan Machinery from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Finally, Lake Street Capital reiterated a "hold" rating and issued a $18.00 price objective (up from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $21.00.

Insider Activity at Titan Machinery

In other news, Chairman David Joseph Meyer purchased 3,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the transaction, the chairman now directly owns 138,388 shares of the company's stock, valued at $2,333,221.68. This trade represents a 2.22% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought 26,182 shares of company stock worth $439,661 over the last ninety days. 10.28% of the stock is owned by corporate insiders.

Titan Machinery Trading Down 1.3%

Shares of TITN stock traded down $0.24 during trading hours on Wednesday, reaching $18.54. The company's stock had a trading volume of 196,003 shares, compared to its average volume of 261,574. The stock has a market capitalization of $428.01 million, a P/E ratio of 13.84 and a beta of 1.35. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $23.41. The firm's fifty day simple moving average is $17.77 and its 200 day simple moving average is $16.50. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20.

Titan Machinery (NASDAQ:TITN - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.21. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The company had revenue of $594.34 million for the quarter, compared to analyst estimates of $445.76 million.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. 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.