Titan Machinery Inc. (NASDAQ:TITN) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Titan Machinery Inc. has received an average recommendation of “Buy” from six research firms, with a price target of $22.25.
• The company's stock is currently trading at $19.46, down by $0.24 during midday trading, with a 12-month price range between $12.50 and $23.41.
• Recent institutional trading shows notable increases in holdings, including a 6,432.3% increase by GAMMA Investing LLC in the first quarter.

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) has been assigned an average rating of "Buy" from the six ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $22.25.

A number of equities research analysts have recently weighed in on TITN shares. Wall Street Zen downgraded Titan Machinery from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Lake Street Capital restated a "hold" rating and set a $18.00 price objective (up from $15.00) on shares of Titan Machinery in a research note on Friday, May 23rd. Finally, 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 note on Tuesday, May 27th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TITN. LPL Financial LLC acquired a new position in Titan Machinery during the 4th quarter worth $175,000. Vanguard Group Inc. boosted its position in Titan Machinery by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company's stock worth $16,860,000 after acquiring an additional 4,955 shares during the period. JPMorgan Chase & Co. boosted its position in Titan Machinery by 2.1% during the 4th quarter. JPMorgan Chase & Co. now owns 176,652 shares of the company's stock worth $2,496,000 after acquiring an additional 3,626 shares during the period. Geode Capital Management LLC boosted its position in Titan Machinery by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 482,744 shares of the company's stock worth $6,823,000 after acquiring an additional 8,958 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Titan Machinery by 29.3% during the 4th quarter. Wells Fargo & Company MN now owns 12,397 shares of the company's stock worth $175,000 after acquiring an additional 2,808 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Titan Machinery Stock Performance

Shares of NASDAQ TITN traded down $0.24 during trading on Friday, reaching $19.46. The stock had a trading volume of 98,512 shares, compared to its average volume of 131,425. Titan Machinery has a one year low of $12.50 and a one year high of $23.41. 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 cap of $449.14 million, a PE ratio of -7.40 and a beta of 1.37. The firm's 50 day moving average price is $19.75 and its two-hundred day moving average price is $18.28.

Titan Machinery (NASDAQ:TITN - Get Free Report) last issued 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. Titan Machinery had a negative return on equity of 8.22% and a negative net margin of 2.23%. The business had revenue of $594.34 million during the quarter, compared to the consensus estimate of $445.76 million.

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.