Analysts Set Titan Machinery Inc. (NASDAQ:TITN) PT at $19.80

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) has been given a consensus recommendation of "Buy" by the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $19.80.

A number of equities analysts have commented on the company. Baird R W upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. Northland Capmk raised Titan Machinery from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Northland Securities raised Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price for the company in a research report on Friday, April 11th. B. Riley began coverage on Titan Machinery in a report on Thursday, March 27th. They issued a "neutral" rating and a $19.00 target price for the company. Finally, Robert W. Baird dropped 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.

Titan Machinery Stock Up 4.6%

Shares of TITN stock traded up $0.90 on Wednesday, hitting $20.26. 35,276 shares of the stock were exchanged, compared to its average volume of 272,787. The business has a 50-day moving average of $16.24 and a 200 day moving average of $15.83. Titan Machinery has a fifty-two week low of $12.30 and a fifty-two week high of $24.25. 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 firm has a market capitalization of $467.72 million, a P/E ratio of 15.12 and a beta of 1.35.

Insider Activity at Titan Machinery

In other news, Chairman David Joseph Meyer purchased 3,000 shares of Titan Machinery stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average price of $16.86 per share, with a total value of $50,580.00. Following the completion of the transaction, the chairman now directly owns 138,388 shares of the company's stock, valued at approximately $2,333,221.68. The trade was a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 26,182 shares of company stock valued at $439,661 over the last 90 days. Corporate insiders own 10.28% of the company's stock.

Hedge Funds Weigh In On Titan Machinery

Several hedge funds and other institutional investors have recently modified their holdings of TITN. Barclays PLC boosted its holdings in Titan Machinery by 287.0% in the 3rd quarter. Barclays PLC now owns 31,872 shares of the company's stock worth $444,000 after buying an additional 23,637 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Titan Machinery by 91.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company's stock valued at $122,000 after buying an additional 4,103 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Titan Machinery by 2.1% during the 4th quarter. JPMorgan Chase & Co. now owns 176,652 shares of the company's stock valued at $2,496,000 after buying an additional 3,626 shares in the last quarter. Empowered Funds LLC grew its holdings in Titan Machinery by 5.1% during the 4th quarter. Empowered Funds LLC now owns 20,000 shares of the company's stock valued at $283,000 after purchasing an additional 962 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Titan Machinery by 23.8% during the 4th 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. 78.38% of the stock is owned by institutional investors.

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.