BlackRock Inc. Takes $35.48 Million Position in Titan Machinery Inc. $TITN

Key Points

• BlackRock acquired a new 7.21% stake in Titan Machinery during the second quarter, purchasing 1.68 million shares valued at approximately $35.5 million. Institutional investors now own 78.38% of the company.
• Titan Machinery reported quarterly revenue of $496.38 million, above analyst expectations, but posted an adjusted loss of $0.40 per share, missing estimates by $0.04. The company has negative net margins and expects fiscal 2027 EPS between -$1.75 and -$1.25.
• Analyst sentiment remains mixed, with ratings ranging from “sell” to “outperform”; the overall consensus is “Hold” with an average price target of $29, compared with a recent share price of $20.54.

BlackRock Inc. bought a new stake in Titan Machinery Inc. (NASDAQ:TITN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,679,778 shares of the company's stock, valued at approximately $35,477,000. BlackRock Inc. owned approximately 7.21% of Titan Machinery at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TITN. Deutsche Bank AG bought a new position in shares of Titan Machinery during the 2nd quarter worth about $12,914,000. Bank of New York Mellon Corp bought a new stake in Titan Machinery in the second quarter valued at about $1,306,000. State of Wyoming bought a new stake in Titan Machinery in the second quarter valued at about $359,000. Janus Henderson Group PLC raised its position in Titan Machinery by 137.9% in the first quarter. Janus Henderson Group PLC now owns 719,639 shares of the company's stock worth $12,032,000 after purchasing an additional 417,190 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in Titan Machinery by 13.5% in the first quarter. Quantinno Capital Management LP now owns 43,061 shares of the company's stock worth $720,000 after purchasing an additional 5,130 shares in the last quarter. 78.38% of the stock is owned by institutional investors.

Titan Machinery Stock Performance

Shares of NASDAQ:TITN opened at $20.54 on Wednesday. Titan Machinery Inc. has a twelve month low of $13.21 and a twelve month high of $25.00. The firm has a market cap of $478.62 million, a PE ratio of -8.25 and a beta of 1.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.22 and a current ratio of 1.38. The business has a fifty day moving average of $18.99 and a 200-day moving average of $19.28.

Titan Machinery (NASDAQ:TITN - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The company had revenue of $496.38 million for the quarter, compared to analyst estimates of $483.78 million. Titan Machinery had a negative return on equity of 9.06% and a negative net margin of 2.46%.Titan Machinery has set its FY 2027 guidance at -1.750--1.250 EPS. On average, equities research analysts predict that Titan Machinery Inc. will post -1.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TITN. Wall Street Zen downgraded Titan Machinery from a "hold" rating to a "sell" rating in a report on Saturday. Robert W. Baird set a $29.00 target price on Titan Machinery and gave the stock an "outperform" rating in a report on Monday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Titan Machinery in a research report on Monday, June 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $29.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source