Titan Machinery (NASDAQ:TITN) Upgraded to “Outperform” at Northland Securities

Titan Machinery (NASDAQ:TITN) was upgraded by equities research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a report released on Friday, MarketBeat Ratings reports. The brokerage presently has a $25.00 price target on the stock. Northland Securities’ price objective would indicate a potential upside of 53.00% from the company’s previous close.

Other research analysts have also issued research reports about the company. B. Riley initiated coverage on Titan Machinery in a report on Thursday, March 27th. They set a “neutral” rating and a $19.00 target price for the company. Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. Finally, Robert W. Baird lowered their target price on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.80.

Titan Machinery Price Performance

NASDAQ TITN opened at $16.34 on Friday. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. The company has a market cap of $377.85 million, a PE ratio of 12.19 and a beta of 1.27. Titan Machinery has a 52 week low of $12.30 and a 52 week high of $24.28. The firm’s 50-day simple moving average is $16.62 and its two-hundred day simple moving average is $15.42.

Insider Buying and Selling

In other Titan Machinery news, Chairman David Joseph Meyer bought 22,524 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average cost of $16.83 per share, with a total value 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. This trade represents a 19.96 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have bought a total of 26,182 shares of company stock valued at $439,661 over the last three months. 10.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TITN. R Squared Ltd purchased a new position in shares of Titan Machinery during the fourth quarter valued at approximately $26,000. Russell Investments Group Ltd. boosted its holdings in Titan Machinery by 51.2% in the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock valued at $37,000 after acquiring an additional 882 shares in the last quarter. US Bancorp DE increased its position in Titan Machinery by 23.8% during the 4th quarter. US Bancorp DE now owns 3,861 shares of the company’s stock valued at $55,000 after purchasing an additional 741 shares during the period. FMR LLC increased its position in Titan Machinery by 142.5% during the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $73,000 after purchasing an additional 3,092 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Titan Machinery by 91.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock worth $122,000 after purchasing an additional 4,103 shares during the period. Institutional investors own 78.38% of the company’s stock.

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.