Brokerages Set Titan Machinery Inc. (NASDAQ:TITN) Target Price at $20.17

Shares of Titan Machinery Inc. (NASDAQ:TITN) have been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $21.00.

Several research analysts recently commented on TITN shares. Northland Capmk downgraded Titan Machinery from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 20th. Lake Street Capital cut Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research note on Thursday, August 15th. Northland Securities restated a “market perform” rating and issued a $25.00 price target (up previously from $15.00) on shares of Titan Machinery in a research note on Friday, August 30th. B. Riley reduced their price objective on shares of Titan Machinery from $20.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Robert W. Baird dropped their target price on shares of Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th.

Titan Machinery Stock Performance

Titan Machinery stock opened at $13.91 on Wednesday. The firm has a market capitalization of $317.43 million, a PE ratio of 3.34 and a beta of 1.26. Titan Machinery has a one year low of $12.30 and a one year high of $29.55. The stock’s 50 day moving average price is $15.60 and its 200 day moving average price is $20.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.15 and a current ratio of 1.29.

Titan Machinery (NASDAQ:TITN) last posted its earnings results on Thursday, August 29th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.09). The firm had revenue of $633.70 million for the quarter, compared to analyst estimates of $645.28 million. Titan Machinery had a return on equity of 10.42% and a net margin of 2.11%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. As a group, sell-side analysts expect that Titan Machinery will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TITN. Innealta Capital LLC bought a new stake in shares of Titan Machinery during the 2nd quarter valued at about $36,000. Canada Pension Plan Investment Board bought a new position in shares of Titan Machinery during the second quarter valued at approximately $37,000. nVerses Capital LLC raised its position in shares of Titan Machinery by 118.2% during the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $38,000 after purchasing an additional 1,300 shares during the period. Quest Partners LLC bought a new stake in shares of Titan Machinery in the 4th quarter worth approximately $165,000. Finally, Los Angeles Capital Management LLC acquired a new position in Titan Machinery during the 4th quarter valued at approximately $301,000. 78.38% of the stock is currently owned by institutional investors.

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.