Titan Machinery (NASDAQ:TITN) Downgraded by BidaskClub

Titan Machinery (NASDAQ:TITN) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday, January 18th.

Several other equities research analysts have also commented on TITN. William Blair raised Titan Machinery from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, December 6th. Piper Jaffray Companies set a $19.00 price target on Titan Machinery and gave the stock a “hold” rating in a research note on Friday, December 1st. Finally, Robert W. Baird restated an “outperform” rating and set a $25.00 price objective (up from $18.00) on shares of Titan Machinery in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $23.00.

Shares of Titan Machinery (NASDAQ TITN) opened at $18.81 on Thursday. 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 has a 52-week low of $11.68 and a 52-week high of $24.19. The company has a market capitalization of $417.15, a PE ratio of -24.12, a PEG ratio of 5.08 and a beta of 1.61.

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

In other news, CEO David Joseph Meyer sold 61,796 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was 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 approximately $15,641,628.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 16.08% of the company’s stock.

A number of institutional investors have recently made changes to their positions in TITN. Rhumbline Advisers boosted its position in Titan Machinery by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 21,909 shares of the company’s stock worth $394,000 after purchasing an additional 545 shares during the period. JPMorgan Chase & Co. boosted its position in Titan Machinery by 0.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,221,293 shares of the company’s stock worth $21,959,000 after purchasing an additional 6,594 shares during the period. Schroder Investment Management Group purchased a new stake in Titan Machinery during the 2nd quarter worth $435,000. Franklin Resources Inc. boosted its position in Titan Machinery by 30.0% during the 2nd quarter. Franklin Resources Inc. now owns 130,000 shares of the company’s stock worth $2,337,000 after purchasing an additional 30,000 shares during the period. Finally, Alliancebernstein L.P. purchased a new stake in Titan Machinery during the 2nd quarter worth $1,983,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

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About Titan Machinery

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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