Titan Machinery Inc. (NASDAQ:TITN) Director Sells $340,944.78 in Stock

Titan Machinery Inc. (NASDAQ:TITN) Director Tony Christianson sold 10,401 shares of the firm’s stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $32.78, for a total value of $340,944.78. Following the transaction, the director now owns 50,325 shares in the company, valued at $1,649,653.50. The sale was disclosed in a document filed with the SEC, which is available at this link.

Tony Christianson also recently made the following trade(s):

  • On Thursday, June 10th, Tony Christianson sold 10,781 shares of Titan Machinery stock. The shares were sold at an average price of $31.38, for a total value of $338,307.78.

Shares of NASDAQ TITN opened at $31.29 on Friday. Titan Machinery Inc. has a 12 month low of $9.45 and a 12 month high of $35.24. The company has a quick ratio of 0.51, a current ratio of 1.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $704.68 million, a price-to-earnings ratio of 36.81 and a beta of 1.79. The stock’s 50-day simple moving average is $27.13.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings data on Wednesday, May 26th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.30. The company had revenue of $372.70 million during the quarter, compared to analyst estimates of $337.65 million. Titan Machinery had a return on equity of 7.84% and a net margin of 1.37%. The business’s revenue was up 20.1% compared to the same quarter last year. As a group, analysts anticipate that Titan Machinery Inc. will post 1.44 EPS for the current year.

A number of equities research analysts have recently commented on TITN shares. Robert W. Baird lifted their target price on Titan Machinery from $31.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, May 27th. Stephens upgraded Titan Machinery from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $26.00 to $40.00 in a research note on Friday, May 28th. Finally, Zacks Investment Research upgraded Titan Machinery from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, May 27th. Five investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $31.75.

Large investors have recently added to or reduced their stakes in the stock. Dorsey Wright & Associates lifted its position in Titan Machinery by 135.0% in the 1st quarter. Dorsey Wright & Associates now owns 1,551 shares of the company’s stock worth $40,000 after buying an additional 891 shares during the last quarter. Capital Asset Advisory Services LLC bought a new position in shares of Titan Machinery during the fourth quarter valued at approximately $68,000. Citigroup Inc. grew its stake in Titan Machinery by 297.6% in the fourth quarter. Citigroup Inc. now owns 3,638 shares of the company’s stock worth $71,000 after purchasing an additional 2,723 shares during the period. Lazard Asset Management LLC purchased a new stake in Titan Machinery in the first quarter worth $81,000. Finally, BNP Paribas Arbitrage SA grew its stake in Titan Machinery by 79.2% in the first quarter. BNP Paribas Arbitrage SA now owns 9,070 shares of the company’s stock worth $231,000 after purchasing an additional 4,010 shares during the period. Institutional investors own 73.60% of the company’s stock.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores in the United States and Europe. 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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