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

Shares of Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) have earned a consensus recommendation of "Buy" from the seven ratings firms that are currently covering the stock, Marketbeat reports. Two 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 1-year target price among brokers that have covered the stock in the last year is $19.80.

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

Titan Machinery Stock Down 1.4 %

Titan Machinery stock opened at $17.75 on Wednesday. Titan Machinery has a fifty-two week low of $12.30 and a fifty-two week high of $24.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The firm's 50-day simple moving average is $16.09 and its 200 day simple moving average is $15.74. The stock has a market cap of $409.78 million, a PE ratio of 13.25 and a beta of 1.35.

Insider Activity

In other Titan Machinery news, Chairman David Joseph Meyer purchased 3,000 shares of the stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $16.86 per share, with a total value of $50,580.00. Following the acquisition, the chairman now directly owns 138,388 shares in the company, valued at approximately $2,333,221.68. The trade was a 2.22 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders bought 26,182 shares of company stock worth $439,661. 10.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Titan Machinery

Hedge funds have recently bought and sold shares of the stock. R Squared Ltd bought a new position in Titan Machinery in the fourth quarter valued at $26,000. Russell Investments Group Ltd. increased its position in shares of Titan Machinery by 51.2% during the 4th 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 shares of 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 buying an additional 741 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Titan Machinery by 42.8% in the first 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 in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Titan Machinery by 91.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company's stock worth $122,000 after acquiring an additional 4,103 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

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.

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