Titan Machinery (NASDAQ:TITN) Rating Lowered to Hold at ValuEngine

Titan Machinery (NASDAQ:TITN) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, ValuEngine reports.

Several other equities research analysts also recently commented on the company. Zacks Investment Research upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a report on Tuesday, June 4th. Robert W. Baird upgraded Titan Machinery from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $24.00 in a report on Sunday, June 16th. Finally, BidaskClub downgraded Titan Machinery from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $21.50.

Shares of TITN opened at $19.55 on Tuesday. Titan Machinery has a 52-week low of $11.99 and a 52-week high of $21.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.31 and a current ratio of 1.39. The firm has a 50 day simple moving average of $19.92. The firm has a market capitalization of $421.27 million, a price-to-earnings ratio of 29.18 and a beta of 2.13.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. Titan Machinery had a return on equity of 5.06% and a net margin of 1.03%. The firm had revenue of $278.29 million for the quarter, compared to analyst estimates of $250.38 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. The company’s revenue was up 14.2% compared to the same quarter last year. As a group, equities research analysts expect that Titan Machinery will post 0.89 EPS for the current fiscal year.

In other news, Director Tony Christianson sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $19.63, for a total transaction of $431,860.00. Following the completion of the sale, the director now owns 42,076 shares in the company, valued at $825,951.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Bryan J. Knutson sold 3,711 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $19.71, for a total value of $73,143.81. Following the sale, the chief operating officer now owns 28,315 shares of the company’s stock, valued at approximately $558,088.65. The disclosure for this sale can be found here. Insiders own 15.37% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Aperio Group LLC bought a new stake in Titan Machinery during the second quarter worth $29,000. Public Employees Retirement System of Ohio grew its holdings in Titan Machinery by 51.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,534 shares of the company’s stock worth $33,000 after buying an additional 866 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Titan Machinery by 33.3% during the fourth quarter. Macquarie Group Ltd. now owns 3,199 shares of the company’s stock worth $42,000 after buying an additional 800 shares in the last quarter. Legal & General Group Plc grew its holdings in Titan Machinery by 51.7% during the fourth quarter. Legal & General Group Plc now owns 4,110 shares of the company’s stock worth $55,000 after buying an additional 1,400 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Titan Machinery by 108.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,143 shares of the company’s stock worth $64,000 after buying an additional 2,151 shares in the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. 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.

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