Titan Machinery (NASDAQ:TITN) Price Target Raised to $18.00

Titan Machinery (NASDAQ:TITN - Get Free Report) had its price objective upped by research analysts at Lake Street Capital from $15.00 to $18.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Lake Street Capital's price target points to a potential downside of 10.43% from the stock's previous close.

A number of other brokerages have also commented on TITN. Baird R W raised Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. Robert W. Baird dropped their price objective on shares of Titan Machinery from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Northland Securities raised 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. B. Riley started coverage on shares of Titan Machinery in a research note on Thursday, March 27th. They set a "neutral" rating and a $19.00 price target for the company. Finally, Northland Capmk upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.40.

Titan Machinery Stock Performance

Shares of TITN traded down $0.04 during trading hours on Friday, hitting $20.10. The company had a trading volume of 24,002 shares, compared to its average volume of 270,985. The firm has a market cap of $463.91 million, a price-to-earnings ratio of 15.00 and a beta of 1.35. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $17.32 and a 200-day moving average of $16.22. Titan Machinery has a 12 month low of $12.30 and a 12 month 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) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.21. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The firm had revenue of $594.34 million during the quarter, compared to the consensus estimate of $445.76 million.

Insider Activity

In related news, Chairman David Joseph Meyer purchased 22,524 shares of the business's stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $16.83 per share, for a total transaction of $379,078.92. Following the purchase, the chairman now owns 135,388 shares of the company's stock, 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. Insiders bought a total of 26,182 shares of company stock worth $439,661 in the last three months. Company insiders own 10.28% of the company's stock.

Institutional Trading of Titan Machinery

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Titan Machinery by 109.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,817,108 shares of the company's stock worth $30,964,000 after acquiring an additional 948,707 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Titan Machinery by 0.9% in the first quarter. American Century Companies Inc. now owns 1,241,212 shares of the company's stock valued at $21,150,000 after acquiring an additional 11,575 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Titan Machinery by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company's stock valued at $16,860,000 after acquiring an additional 4,955 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Titan Machinery by 2.0% during the fourth quarter. William Blair Investment Management LLC now owns 920,090 shares of the company's stock worth $13,001,000 after acquiring an additional 17,689 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in Titan Machinery by 5.6% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 702,390 shares of the company's stock worth $11,969,000 after purchasing an additional 37,140 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other 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.

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