Titan Machinery Inc. (NASDAQ:TITN) Receives $21.00 Consensus Price Target from Brokerages

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) has been given a consensus rating of "Buy" by the seven analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $21.00.

A number of brokerages recently issued reports on TITN. Northland Capmk upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Robert W. Baird decreased their target price on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Lake Street Capital reiterated a "hold" rating and set a $18.00 price target (up previously from $15.00) on shares of Titan Machinery in a report on Friday, May 23rd. B. Riley lifted their price target on Titan Machinery from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Finally, Northland Securities upgraded Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 price target on the stock in a report on Friday, April 11th.

Titan Machinery Price Performance

Shares of NASDAQ TITN traded down $0.17 during mid-day trading on Friday, reaching $18.51. The company had a trading volume of 223,100 shares, compared to its average volume of 262,581. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. The stock has a market cap of $427.32 million, a PE ratio of 13.81 and a beta of 1.35. The company has a 50-day moving average price of $17.74 and a two-hundred day moving average price of $16.46. Titan Machinery has a 1-year low of $12.30 and a 1-year high of $23.41.

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

Insider Activity

In other news, Chairman David Joseph Meyer acquired 22,524 shares of Titan Machinery stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average price of $16.83 per share, with a total value of $379,078.92. Following the completion of the transaction, the chairman now owns 135,388 shares in the company, valued at approximately $2,278,580.04. This trade represents a 19.96% 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 quarter, insiders have acquired 26,182 shares of company stock worth $439,661. 10.28% of the stock is owned by corporate insiders.

Institutional Trading of Titan Machinery

Institutional investors have recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Titan Machinery during the fourth quarter valued at $26,000. Russell Investments Group Ltd. boosted its position in Titan Machinery by 51.2% during 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 boosted its position in Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company's stock valued at $55,000 after purchasing an additional 741 shares during the last quarter. New York State Common Retirement Fund boosted its position in Titan Machinery by 42.8% during the first quarter. New York State Common Retirement Fund now owns 4,674 shares of the company's stock valued at $80,000 after purchasing an additional 1,400 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Titan Machinery during the first quarter valued at $109,000. Institutional investors and hedge funds own 78.38% of the company's stock.

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.