Lake Street Capital Reiterates Hold Rating for Titan Machinery (NASDAQ:TITN)

Lake Street Capital reaffirmed their hold rating on shares of Titan Machinery (NASDAQ:TITN - Free Report) in a research report released on Friday morning, MarketBeat.com reports. Lake Street Capital currently has a $18.00 price target on the stock, up from their previous price target of $15.00.

TITN has been the topic of a number of other research reports. Baird R W raised shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. B. Riley started 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 for the company. Northland Capmk raised shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Northland Securities upgraded Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 price objective on the stock in a research report on Friday, April 11th. Finally, Robert W. Baird cut their price objective on shares of Titan Machinery from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $21.00.

Titan Machinery Price Performance

NASDAQ TITN traded up $0.06 on Friday, hitting $20.46. 86,762 shares of the company were exchanged, compared to its average volume of 264,952. The company has a market cap of $472.34 million, a P/E ratio of 15.29 and a beta of 1.35. Titan Machinery has a 1-year low of $12.30 and a 1-year high of $23.41. 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 50 day moving average of $17.62 and a two-hundred day moving average of $16.34.

Titan Machinery (NASDAQ:TITN - Get Free Report) last announced 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 net margin of 1.10% and a return on equity of 5.91%. The business had revenue of $594.34 million for the quarter, compared to the consensus estimate of $445.76 million.

Insiders Place Their Bets

In related news, Chairman David Joseph Meyer acquired 22,524 shares of the company's stock in a transaction dated Friday, March 21st. The shares were purchased at an average cost of $16.83 per share, with a total value of $379,078.92. Following the completion of the acquisition, the chairman now directly owns 135,388 shares of the company's stock, valued at $2,278,580.04. This represents a 19.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 26,182 shares of company stock worth $439,661 in the last three months. Corporate insiders own 10.28% of the company's stock.

Hedge Funds Weigh In On Titan Machinery

A number of large investors have recently added to or reduced their stakes in TITN. R Squared Ltd acquired a new stake in shares of Titan Machinery during the fourth quarter valued at about $26,000. Russell Investments Group Ltd. raised its position in Titan Machinery by 51.2% during the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company's stock worth $37,000 after buying an additional 882 shares during the last quarter. US Bancorp DE grew 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 worth $55,000 after buying an additional 741 shares during the period. New York State Common Retirement Fund increased its holdings in 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 valued at $80,000 after acquiring an additional 1,400 shares in the last quarter. Finally, State of Wyoming purchased a new position 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.

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.