Titan Machinery Inc. (NASDAQ:TITN) Receives $19.80 Average Price Target from Analysts

Shares of Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) have earned a consensus rating of "Buy" from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.80.

A number of analysts recently commented on the stock. Baird R W upgraded shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. B. Riley started coverage on shares of Titan Machinery in a report on Thursday, March 27th. They set a "neutral" rating and a $19.00 price objective on the stock. Robert W. Baird cut their target price on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Northland Capmk upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Finally, Northland Securities raised Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 price objective on the stock in a report on Friday, April 11th.

Insider Buying and Selling

In other news, Chairman David Joseph Meyer purchased 3,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $16.86 per share, with a total value of $50,580.00. Following the completion of the acquisition, the chairman now owns 138,388 shares of the company's stock, valued at approximately $2,333,221.68. This represents a 2.22 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 26,182 shares of company stock valued at $439,661 over the last ninety days. Company insiders own 10.28% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TITN. FMR LLC increased its stake in shares of Titan Machinery by 142.5% in the 3rd quarter. FMR LLC now owns 5,262 shares of the company's stock valued at $73,000 after purchasing an additional 3,092 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Titan Machinery in the third quarter valued at approximately $229,000. Janus Henderson Group PLC increased its position in shares of Titan Machinery by 6.8% in the third quarter. Janus Henderson Group PLC now owns 39,262 shares of the company's stock valued at $547,000 after buying an additional 2,496 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Titan Machinery by 122.1% during the 3rd quarter. Jane Street Group LLC now owns 56,375 shares of the company's stock worth $785,000 after buying an additional 30,997 shares during the period. Finally, Barclays PLC lifted its position in shares of Titan Machinery by 287.0% during the 3rd quarter. Barclays PLC now owns 31,872 shares of the company's stock valued at $444,000 after buying an additional 23,637 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Titan Machinery Stock Down 0.5 %

NASDAQ TITN traded down $0.07 during trading on Friday, hitting $15.92. The company's stock had a trading volume of 28,773 shares, compared to its average volume of 317,167. Titan Machinery has a fifty-two week low of $12.30 and a fifty-two week high of $24.28. The company has a market cap of $368.04 million, a PE ratio of 11.88 and a beta of 1.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The business's 50 day simple moving average is $16.45 and its 200-day simple moving average is $15.46.

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.