Titan Machinery (NASDAQ:TITN) Downgraded by Wall Street Zen to Sell

Key Points

• Titan Machinery's stock was downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a negative outlook on the company's performance.
• Despite the downgrade, some analysts have positive views; Northland Securities upgraded it to "outperform" with a target price of $25.00 and others have rated it a "strong buy" or "buy."
• Shares of Titan Machinery recently traded at $18.98, with a 52-week range between $12.30 and $23.41, indicating volatility in stock performance.

Wall Street Zen lowered shares of Titan Machinery (NASDAQ:TITN - Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Other analysts also recently issued research reports about the company. Northland Securities raised Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a research note on Friday, April 11th. Lake Street Capital reissued a "hold" rating and set a $18.00 target price (up previously from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. B. Riley boosted their target price on Titan Machinery from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Finally, Northland Capmk raised Titan Machinery from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Titan Machinery Stock Performance

Shares of TITN stock traded up $0.29 during trading hours on Friday, reaching $19.82. 32,540 shares of the company traded hands, compared to its average volume of 252,552. Titan Machinery has a 12-month low of $12.30 and a 12-month high of $23.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.18. The company has a market cap of $457.57 million, a P/E ratio of -7.57 and a beta of 1.37. The firm has a 50-day moving average price of $19.68 and a 200 day moving average price of $18.24.

Titan Machinery (NASDAQ:TITN - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 8.22% and a negative net margin of 2.23%. The firm had revenue of $594.34 million for the quarter, compared to analysts' expectations of $445.76 million.

Hedge Funds Weigh In On Titan Machinery

Several large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its holdings in Titan Machinery by 125.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 80,079 shares of the company's stock valued at $1,586,000 after acquiring an additional 44,617 shares during the period. Boston Partners purchased a new position in Titan Machinery during the 2nd quarter valued at $508,000. Prudential Financial Inc. purchased a new position in Titan Machinery during the 2nd quarter valued at $246,000. American Century Companies Inc. boosted its holdings in Titan Machinery by 26.6% during the 2nd quarter. American Century Companies Inc. now owns 1,571,648 shares of the company's stock valued at $31,134,000 after acquiring an additional 330,436 shares during the period. Finally, CenterBook Partners LP boosted its holdings in Titan Machinery by 199.8% during the 2nd quarter. CenterBook Partners LP now owns 216,054 shares of the company's stock valued at $4,280,000 after acquiring an additional 143,979 shares during the period. Institutional investors own 78.38% of the company's stock.

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.