Analysts Set Titan Machinery Inc. (NASDAQ:TITN) Target Price at $22.00

Titan Machinery Inc. (NASDAQ:TITN) has received an average rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $23.50.

Several analysts have issued reports on the stock. ValuEngine upgraded shares of Titan Machinery from a “sell” rating to a “hold” rating in a research note on Friday, November 29th. Stephens restated a “hold” rating and set a $23.00 price target on shares of Titan Machinery in a research report on Wednesday, November 27th. Zacks Investment Research cut shares of Titan Machinery from a “hold” rating to a “strong sell” rating in a report on Friday, November 29th. Finally, BidaskClub cut shares of Titan Machinery from a “buy” rating to a “hold” rating in a report on Saturday.

Several institutional investors and hedge funds have recently modified their holdings of the company. Granahan Investment Management Inc. MA increased its stake in Titan Machinery by 12.5% in the third quarter. Granahan Investment Management Inc. MA now owns 825,142 shares of the company’s stock valued at $11,833,000 after acquiring an additional 91,802 shares during the last quarter. State Street Corp lifted its holdings in shares of Titan Machinery by 1.5% in the 3rd quarter. State Street Corp now owns 376,880 shares of the company’s stock worth $5,404,000 after acquiring an additional 5,459 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Titan Machinery by 12.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 131,281 shares of the company’s stock worth $1,882,000 after acquiring an additional 14,644 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Titan Machinery by 7.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 66,242 shares of the company’s stock worth $950,000 after acquiring an additional 4,464 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Titan Machinery by 32.5% in the 3rd quarter. California Public Employees Retirement System now owns 15,716 shares of the company’s stock valued at $225,000 after purchasing an additional 3,855 shares in the last quarter. Hedge funds and other institutional investors own 77.05% of the company’s stock.

Shares of TITN traded up $0.32 during midday trading on Friday, hitting $13.37. 9,873 shares of the company traded hands, compared to its average volume of 132,067. Titan Machinery has a one year low of $11.99 and a one year high of $21.88. The firm has a market cap of $301.11 million, a P/E ratio of 19.97 and a beta of 2.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.40 and a quick ratio of 0.26. The stock has a 50-day moving average of $16.49 and a 200-day moving average of $17.05.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Tuesday, November 26th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.03). The firm had revenue of $360.90 million during the quarter, compared to the consensus estimate of $373.65 million. Titan Machinery had a net margin of 0.85% and a return on equity of 4.91%. Titan Machinery’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. Sell-side analysts forecast that Titan Machinery will post 0.82 EPS for the current fiscal year.

Titan Machinery Company Profile

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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