Deutsche Bank AG Purchases 47,033 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Key Points

• Deutsche Bank AG increased its stake in Titan Machinery by 7.9%, acquiring an additional 47,033 shares, bringing their total holdings to 644,747 shares, which are valued at approximately $10.99 million.
• Several institutional investors have recently increased their holdings, with Russell Investments Group Ltd. boosting their stake by 51.2% and New York State Common Retirement Fund increasing theirs by 42.8%.
• Analysts have mixed ratings on Titan Machinery, with an average price target of $21.00, while B. Riley upgraded their price objective from $19.00 to $22.00 and Wall Street Zen downgraded their rating to "sell."

Deutsche Bank AG lifted its stake in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 644,747 shares of the company's stock after purchasing an additional 47,033 shares during the quarter. Deutsche Bank AG owned 2.79% of Titan Machinery worth $10,986,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TITN. Bessemer Group Inc. acquired a new stake in shares of Titan Machinery during the 1st quarter worth $10,716,000. Voss Capital LP grew its holdings in shares of 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 purchasing an additional 401,302 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Titan Machinery by 500.2% during the 1st quarter. Royce & Associates LP now owns 452,570 shares of the company's stock worth $7,712,000 after purchasing an additional 377,170 shares in the last quarter. Bank of America Corp DE boosted its stake in Titan Machinery by 76.9% in the fourth quarter. Bank of America Corp DE now owns 153,787 shares of the company's stock valued at $2,173,000 after buying an additional 66,853 shares in the last quarter. Finally, Dauntless Investment Group LLC acquired a new stake in Titan Machinery in the fourth quarter valued at about $738,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Trading Down 1.2%

Shares of TITN stock traded down $0.24 during mid-day trading on Friday, reaching $19.46. 98,512 shares of the stock traded hands, compared to its average volume of 131,425. The stock's fifty day simple moving average is $19.75 and its two-hundred day simple moving average is $18.28. Titan Machinery Inc. has a 1-year low of $12.50 and a 1-year high of $23.41. The company has a market cap of $449.14 million, a price-to-earnings ratio of -7.40 and a beta of 1.37. The company has a quick ratio of 0.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

Titan Machinery (NASDAQ:TITN - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The company reported ($0.58) EPS for the quarter, beating analysts' consensus estimates of ($0.79) by $0.21. Titan Machinery had a negative return on equity of 8.22% and a negative net margin of 2.23%. The firm had revenue of $594.34 million for the quarter, compared to analyst estimates of $445.76 million.

Analysts Set New Price Targets

Several research firms recently weighed in on TITN. B. Riley raised their price objective on Titan Machinery from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. Wall Street Zen lowered Titan Machinery from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Lake Street Capital reaffirmed a "hold" rating and issued a $18.00 price objective (up from $15.00) on shares of Titan Machinery in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.25.

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.