Titan Machinery (TITN) Stock Rating Upgraded by William Blair

Titan Machinery (NASDAQ:TITN) was upgraded by investment analysts at William Blair from an “underperform” rating to a “market perform” rating in a note issued to investors on Tuesday, January 2nd, Marketbeat reports. William Blair also issued estimates for Titan Machinery’s FY2019 earnings at $0.55 EPS.

A number of other research analysts have also recently commented on TITN. Zacks Investment Research cut Titan Machinery from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. ValuEngine upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. Piper Jaffray Companies restated a “hold” rating on shares of Titan Machinery in a research note on Thursday, September 28th. Robert W. Baird restated an “outperform” rating and set a $25.00 price target (up from $18.00) on shares of Titan Machinery in a research note on Friday, December 1st. Finally, BidaskClub upgraded Titan Machinery from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 5th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Titan Machinery presently has a consensus rating of “Buy” and an average target price of $23.00.

Titan Machinery (NASDAQ:TITN) traded down $0.21 during trading hours on Tuesday, reaching $23.02. The company’s stock had a trading volume of 196,500 shares, compared to its average volume of 325,300. Titan Machinery has a 52 week low of $11.68 and a 52 week high of $23.82. The stock has a market cap of $508.62, a price-to-earnings ratio of -29.90 and a beta of 1.76. The company has a current ratio of 1.70, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Thursday, November 30th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.12. Titan Machinery had a negative return on equity of 2.29% and a negative net margin of 1.44%. The firm had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $306.74 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. analysts anticipate that Titan Machinery will post -0.19 earnings per share for the current year.

In related news, CEO David Joseph Meyer sold 61,796 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total value of $1,350,242.60. Following the transaction, the chief executive officer now owns 715,864 shares of the company’s stock, valued at $15,641,628.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.08% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Granahan Investment Management Inc. MA lifted its position in Titan Machinery by 36.1% in the third quarter. Granahan Investment Management Inc. MA now owns 530,067 shares of the company’s stock valued at $8,232,000 after purchasing an additional 140,498 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Titan Machinery by 14.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,114,632 shares of the company’s stock valued at $17,310,000 after acquiring an additional 137,008 shares during the period. Alliancebernstein L.P. acquired a new stake in shares of Titan Machinery during the 2nd quarter valued at approximately $1,983,000. Goldman Sachs Group Inc. lifted its position in shares of Titan Machinery by 151.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 179,701 shares of the company’s stock valued at $3,231,000 after acquiring an additional 108,215 shares during the period. Finally, Chicago Equity Partners LLC lifted its position in shares of Titan Machinery by 83.1% during the 2nd quarter. Chicago Equity Partners LLC now owns 138,390 shares of the company’s stock valued at $2,488,000 after acquiring an additional 62,810 shares during the period. 76.20% of the stock is currently owned by hedge funds and other institutional investors.

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Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.

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