Titan Machinery Inc. (NASDAQ:TITN) Receives Consensus Rating of "Buy" from Analysts

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) has received a consensus recommendation of "Buy" from the seven research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $21.00.

Several research firms have weighed in on TITN. Northland Capmk raised Titan Machinery from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Lake Street Capital restated a "hold" rating and issued a $18.00 price objective (up previously from $15.00) on shares of Titan Machinery in a report on Friday, May 23rd. Robert W. Baird cut their target price on shares of Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Northland Securities upgraded shares of Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a report on Friday, April 11th. Finally, B. Riley boosted their price target on shares of Titan Machinery from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th.

Insider Buying and Selling

In other news, Chairman David Joseph Meyer acquired 3,000 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $16.86 per share, with a total value of $50,580.00. Following the transaction, the chairman now owns 138,388 shares in the company, valued at approximately $2,333,221.68. This trade represents a 2.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have bought 26,182 shares of company stock worth $439,661. Company insiders own 10.28% of the company's stock.

Institutional Trading of Titan Machinery

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd purchased a new stake in Titan Machinery during the fourth quarter worth approximately $26,000. Russell Investments Group Ltd. increased its stake in Titan Machinery by 51.2% in the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company's stock valued at $37,000 after purchasing an additional 882 shares during the last quarter. US Bancorp DE raised its holdings in Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company's stock worth $55,000 after purchasing an additional 741 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Titan Machinery by 42.8% during the 1st quarter. New York State Common Retirement Fund now owns 4,674 shares of the company's stock worth $80,000 after buying an additional 1,400 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Titan Machinery during the 1st quarter worth approximately $109,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery Trading Down 1.3%

TITN traded down $0.24 during trading hours on Friday, reaching $18.54. The company's stock had a trading volume of 196,003 shares, compared to its average volume of 261,146. Titan Machinery has a fifty-two week low of $12.30 and a fifty-two week high of $23.41. The business's 50-day moving average is $17.79 and its 200-day moving average is $16.52. The stock has a market cap of $428.01 million, a PE ratio of 13.84 and a beta of 1.35. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15.

Titan Machinery (NASDAQ:TITN - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported ($0.58) earnings per share for the quarter, topping analysts' consensus estimates of ($0.79) by $0.21. The firm had revenue of $594.34 million during the quarter, compared to analysts' expectations of $445.76 million. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%.

Titan Machinery Company Profile

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.