Titan Machinery Inc. (NASDAQ:TITN) Receives Average Rating of “Moderate Buy” from Analysts

Titan Machinery Inc. (NASDAQ:TITN) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $19.80.

TITN has been the subject of a number of analyst reports. Northland Securities raised shares of Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research report on Friday. B. Riley began coverage on Titan Machinery in a report on Thursday, March 27th. They set a “neutral” rating and a $19.00 price objective for the company. Robert W. Baird lowered their price objective on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Finally, Baird R W raised Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th.

Insider Buying and Selling

In other Titan Machinery news, Chairman David Joseph Meyer acquired 22,524 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $16.83 per share, for a total transaction of $379,078.92. Following the completion of the purchase, the chairman now directly owns 135,388 shares of the company’s stock, valued at $2,278,580.04. The trade was a 19.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 26,182 shares of company stock worth $439,661 in the last 90 days. Insiders own 10.28% of the company’s stock.

Institutional Investors Weigh In On Titan Machinery

Hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in Titan Machinery in the 4th quarter worth approximately $26,000. Russell Investments Group Ltd. lifted its stake in shares of Titan Machinery by 51.2% in the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock valued at $37,000 after purchasing an additional 882 shares during the period. US Bancorp DE boosted its holdings in Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company’s stock worth $55,000 after buying an additional 741 shares in the last quarter. FMR LLC grew its position in Titan Machinery by 142.5% during the third quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $73,000 after buying an additional 3,092 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Titan Machinery by 91.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock valued at $122,000 after buying an additional 4,103 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Titan Machinery Stock Performance

Shares of Titan Machinery stock opened at $16.34 on Friday. The company has a market capitalization of $377.88 million, a PE ratio of 12.19 and a beta of 1.27. The company has a 50-day simple moving average of $16.62 and a two-hundred day simple moving average of $15.42. Titan Machinery has a one year low of $12.30 and a one year high of $24.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32.

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.