Titan Machinery (NASDAQ:TITN) Downgraded by StockNews.com

StockNews.com cut shares of Titan Machinery (NASDAQ:TITNFree Report) from a hold rating to a sell rating in a research note published on Friday morning.

Several other brokerages also recently weighed in on TITN. TheStreet downgraded Titan Machinery from a b- rating to a c+ rating in a research note on Monday, February 26th. Craig Hallum reduced their target price on Titan Machinery from $30.00 to $25.00 and set a buy rating for the company in a report on Friday. Finally, Robert W. Baird reduced their target price on shares of Titan Machinery from $24.00 to $18.00 and set a neutral rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $35.80.

View Our Latest Report on TITN

Titan Machinery Stock Performance

NASDAQ TITN traded down $1.09 during trading hours on Friday, reaching $18.66. 576,583 shares of the company were exchanged, compared to its average volume of 272,121. The business’s 50 day simple moving average is $23.40 and its 200-day simple moving average is $25.42. The stock has a market capitalization of $425.71 million, a P/E ratio of 4.48 and a beta of 1.41. The company has a quick ratio of 0.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.16. Titan Machinery has a 1 year low of $18.49 and a 1 year high of $35.88.

Titan Machinery (NASDAQ:TITNGet Free Report) last released its quarterly earnings results on Thursday, May 23rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.26). Titan Machinery had a net margin of 3.37% and a return on equity of 15.15%. The company had revenue of $628.70 million for the quarter, compared to analysts’ expectations of $664.18 million. On average, equities research analysts expect that Titan Machinery will post 2.5 earnings per share for the current year.

Hedge Funds Weigh In On Titan Machinery

Several hedge funds have recently modified their holdings of the stock. Quent Capital LLC purchased a new stake in Titan Machinery during the fourth quarter worth about $87,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Titan Machinery during the third quarter worth approximately $128,000. Quest Partners LLC bought a new position in shares of Titan Machinery in the fourth quarter valued at approximately $165,000. Truvestments Capital LLC grew its stake in shares of Titan Machinery by 30.7% in the third quarter. Truvestments Capital LLC now owns 7,367 shares of the company’s stock worth $196,000 after acquiring an additional 1,731 shares during the last quarter. Finally, Corton Capital Inc. acquired a new stake in Titan Machinery during the third quarter worth $234,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Titan Machinery

(Get Free Report)

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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Analyst Recommendations for Titan Machinery (NASDAQ:TITN)

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