Titan Machinery (NASDAQ:TITN) Downgraded to Sell at BidaskClub

BidaskClub downgraded shares of Titan Machinery (NASDAQ:TITN) from a hold rating to a sell rating in a research note published on Friday morning, BidAskClub reports.

A number of other equities analysts have also recently issued reports on TITN. Zacks Investment Research upgraded Titan Machinery from a hold rating to a strong-buy rating and set a $19.00 target price on the stock in a report on Tuesday, June 4th. ValuEngine cut Titan Machinery from a buy rating to a hold rating in a report on Tuesday, August 6th. Finally, Robert W. Baird upgraded Titan Machinery from a neutral rating to an outperform rating and raised their target price for the stock from $18.00 to $24.00 in a report on Sunday, June 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $21.50.

TITN stock traded up $0.44 during midday trading on Friday, reaching $17.96. The stock had a trading volume of 88,600 shares, compared to its average volume of 126,261. The business has a fifty day simple moving average of $19.99 and a two-hundred day simple moving average of $18.30. The company has a quick ratio of 0.31, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. The firm has a market cap of $394.65 million, a price-to-earnings ratio of 26.81 and a beta of 2.13. Titan Machinery has a twelve month low of $11.99 and a twelve month high of $21.88.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Thursday, May 30th. The company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.07. The firm had revenue of $278.29 million during the quarter, compared to analyst estimates of $250.38 million. Titan Machinery had a return on equity of 5.06% and a net margin of 1.03%. The company’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share. On average, equities analysts predict that Titan Machinery will post 0.89 earnings per share for the current fiscal year.

In other news, Director Tony Christianson sold 22,000 shares of Titan Machinery stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $19.63, for a total transaction of $431,860.00. Following the transaction, the director now owns 42,076 shares in the company, valued at approximately $825,951.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Bryan J. Knutson sold 3,711 shares of Titan Machinery stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $19.71, for a total value of $73,143.81. Following the transaction, the chief operating officer now owns 28,315 shares in the company, valued at approximately $558,088.65. The disclosure for this sale can be found here. 15.37% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY lifted its stake in Titan Machinery by 425.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,453 shares of the company’s stock valued at $85,000 after acquiring an additional 5,225 shares in the last quarter. Millennium Management LLC lifted its position in shares of Titan Machinery by 26.2% during the 4th quarter. Millennium Management LLC now owns 181,343 shares of the company’s stock worth $2,385,000 after buying an additional 37,691 shares during the last quarter. IndexIQ Advisors LLC acquired a new position in Titan Machinery in the 1st quarter worth about $1,575,000. Northern Trust Corp increased its stake in shares of Titan Machinery by 3.1% in the fourth quarter. Northern Trust Corp now owns 230,975 shares of the company’s stock valued at $3,037,000 after buying an additional 6,915 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Titan Machinery by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,865,197 shares of the company’s stock valued at $24,527,000 after buying an additional 7,490 shares during the period. Hedge funds and other institutional investors own 78.95% of the company’s stock.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. 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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