Titan Machinery (NASDAQ:TITN) Hits New 52-Week Low at $18.68

Shares of Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $18.68 and last traded at $19.75, with a volume of 1457870 shares trading hands. The stock had previously closed at $23.16.

Analyst Upgrades and Downgrades

Separately, TheStreet downgraded Titan Machinery from a "b-" rating to a "c+" rating in a research note on Monday, February 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Titan Machinery has an average rating of "Moderate Buy" and a consensus price target of $45.33.

Titan Machinery Stock Performance

The company's 50 day simple moving average is $23.53 and its 200 day simple moving average is $25.47. The stock has a market cap of $450.68 million, a PE ratio of 4.00 and a beta of 1.41. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.19 and a current ratio of 1.32.

Titan Machinery (NASDAQ:TITN - Get Free Report) last released its earnings results on Thursday, March 21st. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.06. Titan Machinery had a net margin of 4.08% and a return on equity of 18.40%. The firm had revenue of $852.10 million during the quarter, compared to the consensus estimate of $734.99 million. During the same period in the prior year, the firm earned $0.81 EPS. The company's revenue was up 46.2% compared to the same quarter last year. Analysts expect that Titan Machinery Inc. will post 3.35 earnings per share for the current year.

Hedge Funds Weigh In On Titan Machinery

A number of large investors have recently added to or reduced their stakes in the business. Voss Capital LLC grew its holdings in Titan Machinery by 11.5% in the 4th quarter. Voss Capital LLC now owns 175,000 shares of the company's stock worth $5,054,000 after acquiring an additional 18,017 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Titan Machinery by 52.6% during the third quarter. Gamco Investors INC. ET AL now owns 101,500 shares of the company's stock valued at $2,698,000 after acquiring an additional 35,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Titan Machinery by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 298,292 shares of the company's stock valued at $7,929,000 after acquiring an additional 17,790 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Titan Machinery in the fourth quarter valued at $301,000. Finally, American Century Companies Inc. increased its position in Titan Machinery by 241.0% during the 3rd quarter. American Century Companies Inc. now owns 721,521 shares of the company's stock valued at $19,178,000 after purchasing an additional 509,919 shares during the period. Hedge funds and other institutional investors own 78.38% of the company's stock.

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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