Allspring Global Investments Holdings LLC Increases Stock Holdings in Titan Machinery Inc. (NASDAQ:TITN)

Allspring Global Investments Holdings LLC boosted its position in Titan Machinery Inc. (NASDAQ:TITN) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,583 shares of the company’s stock after purchasing an additional 1,379 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of Titan Machinery worth $335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Titan Machinery during the 3rd quarter valued at about $247,000. Voss Capital LLC purchased a new position in shares of Titan Machinery during the 3rd quarter valued at about $4,173,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Titan Machinery by 3.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,252 shares of the company’s stock valued at $432,000 after buying an additional 469 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Titan Machinery during the 3rd quarter valued at about $242,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Titan Machinery by 9.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 377,303 shares of the company’s stock valued at $10,029,000 after buying an additional 32,331 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of Titan Machinery in a research note on Friday, January 12th. TheStreet downgraded Titan Machinery from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Titan Machinery Stock Performance

NASDAQ:TITN opened at $22.70 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.32 and a quick ratio of 0.19. Titan Machinery Inc. has a 1 year low of $21.44 and a 1 year high of $35.88. The stock’s 50 day simple moving average is $24.50 and its two-hundred day simple moving average is $25.73. The company has a market cap of $518.01 million, a price-to-earnings ratio of 4.60 and a beta of 1.41.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Thursday, March 21st. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. Titan Machinery had a return on equity of 18.40% and a net margin of 4.08%. The business had revenue of $852.10 million for the quarter, compared to the consensus estimate of $734.99 million. During the same quarter in the previous year, the company posted $0.81 EPS. The company’s revenue was up 46.2% compared to the same quarter last year. As a group, equities analysts anticipate that Titan Machinery Inc. will post 3.35 earnings per share for the current fiscal year.

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.