Victory Capital Management Inc. Has $6.52 Million Holdings in Titan Machinery Inc. (NASDAQ:TITN)

Key Points

• Victory Capital Management Inc. increased its stake in Titan Machinery Inc. by 8.0%, owning 382,431 shares valued at approximately $6.5 million after purchasing an additional 28,320 shares.
• Analysts have raised their price targets for Titan Machinery, with B. Riley boosting it from $19.00 to $22.00 while other firms have upgraded their ratings, indicating a generally positive outlook on the stock.
• Titan Machinery reported a loss of $0.58 EPS for the latest quarter, but exceeded revenue expectations with $594.34 million, significantly above the estimates of $445.76 million.

Victory Capital Management Inc. grew its stake in Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 382,431 shares of the company's stock after purchasing an additional 28,320 shares during the period. Victory Capital Management Inc. owned approximately 1.66% of Titan Machinery worth $6,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TITN. Bessemer Group Inc. bought a new stake in shares of Titan Machinery in the 1st quarter valued at approximately $10,716,000. 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. CenterBook Partners LP bought a new stake in Titan Machinery during the 4th quarter worth approximately $1,438,000. Bank of America Corp DE grew its position in Titan Machinery by 76.9% during the 4th quarter. Bank of America Corp DE now owns 153,787 shares of the company's stock worth $2,173,000 after acquiring an additional 66,853 shares during the last quarter. Finally, Dauntless Investment Group LLC bought a new stake in Titan Machinery during the 4th quarter worth approximately $738,000. 78.38% of the stock is currently owned by institutional investors.

Titan Machinery Trading Down 0.8%

TITN traded down $0.17 during mid-day trading on Tuesday, reaching $20.22. The stock had a trading volume of 29,711 shares, compared to its average volume of 262,066. The firm's fifty day simple moving average is $19.80 and its two-hundred day simple moving average is $17.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.18 and a current ratio of 1.33. The stock has a market capitalization of $466.56 million, a P/E ratio of -7.69 and a beta of 1.35. Titan Machinery Inc. has a 52 week low of $12.30 and a 52 week high of $23.41.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TITN shares. B. Riley increased their price target on Titan Machinery from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Wall Street Zen upgraded Titan Machinery from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Lake Street Capital restated a "hold" rating and set a $18.00 price target (up from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. Northland Capmk upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, 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. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.00.

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.