Hotchkis & Wiley Capital Management LLC Boosts Position in Titan Machinery Inc. $TITN

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Titan Machinery by 5.6%, owning approximately 3.04% of the company, valued at nearly $12 million.
• Recent quarterly earnings showed a loss of ($0.58) EPS, exceeding estimates, with revenue reaching $594.34 million, well above analyst predictions.
• Analysts have mixed ratings on Titan Machinery, with a current average target price of $22.25 and several firms adjusting price objectives between $18.00 and $22.00.

Hotchkis & Wiley Capital Management LLC grew its holdings in Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 5.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 702,390 shares of the company's stock after acquiring an additional 37,140 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 3.04% of Titan Machinery worth $11,969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. purchased a new position in shares of Titan Machinery during the first quarter worth $10,716,000. Royce & Associates LP grew its position in 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 during the period. Bank of America Corp DE raised its stake in shares of Titan Machinery by 76.9% during the 4th 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 during the last quarter. Nuveen LLC purchased a new position in shares of Titan Machinery during the 1st quarter valued at about $970,000. Finally, Deutsche Bank AG lifted its holdings in shares of Titan Machinery by 9.0% in the 4th quarter. Deutsche Bank AG now owns 597,714 shares of the company's stock valued at $8,446,000 after buying an additional 49,178 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.

Titan Machinery Trading Up 5.9%

Shares of NASDAQ:TITN opened at $20.58 on Friday. Titan Machinery Inc. has a 1 year low of $12.50 and a 1 year high of $23.41. The firm has a market capitalization of $474.99 million, a price-to-earnings ratio of -7.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.18. The business's 50 day moving average price is $19.77 and its 200-day moving average price is $18.32.

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

Analysts Set New Price Targets

Several research firms have commented on TITN. B. Riley upped 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. Lake Street Capital reissued a "hold" rating and set a $18.00 price target (up from $15.00) on shares of Titan Machinery in a report on Friday, May 23rd. Finally, Wall Street Zen lowered shares of Titan Machinery from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price 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.

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