Titan Machinery (TITN) Downgraded by BidaskClub

BidaskClub cut shares of Titan Machinery (NASDAQ:TITN) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

A number of other equities analysts also recently commented on TITN. Piper Jaffray Companies reaffirmed a hold rating on shares of Titan Machinery in a research note on Thursday, September 28th. William Blair upgraded shares of Titan Machinery from an underperform rating to a market perform rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of Titan Machinery from a sell rating to a hold rating in a research report on Wednesday, November 29th. Finally, Robert W. Baird reiterated an outperform rating and set a $25.00 price target (up from $18.00) on shares of Titan Machinery in a research report on Friday, December 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $23.00.

Shares of Titan Machinery (NASDAQ:TITN) traded up $0.20 during mid-day trading on Thursday, reaching $22.64. 111,858 shares of the company’s stock were exchanged, compared to its average volume of 194,211. The company has a quick ratio of 0.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.31. Titan Machinery has a one year low of $11.68 and a one year high of $24.19. The stock has a market capitalization of $500.23, a P/E ratio of -29.03 and a beta of 1.76.

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

In other Titan Machinery news, CEO David Joseph Meyer sold 61,796 shares of Titan Machinery stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $21.85, for a total transaction of $1,350,242.60. Following the completion of the sale, the chief executive officer now directly owns 715,864 shares in the company, valued at $15,641,628.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.08% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Titan Machinery in the third quarter valued at approximately $155,000. Numeric Investors LLC acquired a new position in shares of Titan Machinery in the second quarter valued at approximately $191,000. Voya Investment Management LLC grew its holdings in shares of Titan Machinery by 14.2% in the second quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock valued at $207,000 after purchasing an additional 1,429 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Titan Machinery by 29.0% in the second quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock valued at $235,000 after purchasing an additional 2,939 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Titan Machinery in the third quarter valued at approximately $211,000. Hedge funds and other institutional investors own 76.20% of the company’s stock.

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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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