Titan Machinery (NASDAQ:TITN) Downgraded by Northland Securities

Northland Securities cut shares of Titan Machinery (NASDAQ:TITN) from an outperform rating to a market perform rating in a research report released on Tuesday morning, MarketBeat reports. They currently have $15.00 target price on the stock, down from their previous target price of $33.00.

A number of other brokerages also recently issued reports on TITN. B. Riley downgraded Titan Machinery from a buy rating to a neutral rating and reduced their price target for the company from $32.00 to $20.00 in a report on Wednesday, June 5th. Robert W. Baird reduced their target price on Titan Machinery from $18.00 to $13.00 and set a neutral rating on the stock in a report on Thursday, August 15th. StockNews.com downgraded Titan Machinery from a hold rating to a sell rating in a report on Friday, May 24th. Lake Street Capital downgraded Titan Machinery from a buy rating to a hold rating and set a $15.00 target price on the stock. in a report on Thursday, August 15th. Finally, Craig Hallum reduced their target price on Titan Machinery from $25.00 to $16.00 and set a buy rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Titan Machinery presently has a consensus rating of Hold and a consensus target price of $20.17.

Titan Machinery Stock Up 2.9 %

TITN opened at $14.21 on Tuesday. The company has a market cap of $324.27 million, a P/E ratio of 3.45 and a beta of 1.31. The business’s 50-day moving average price is $15.89 and its 200-day moving average price is $20.79. The company has a current ratio of 1.29, a quick ratio of 0.15 and a debt-to-equity ratio of 0.16. Titan Machinery has a 12 month low of $12.30 and a 12 month high of $34.99.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Thursday, May 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.26). Titan Machinery had a net margin of 3.37% and a return on equity of 14.93%. The business had revenue of $628.70 million for the quarter, compared to analysts’ expectations of $664.18 million. On average, equities analysts expect that Titan Machinery will post 0.25 EPS for the current year.

Insider Transactions at Titan Machinery

In other Titan Machinery news, Director David Joseph Meyer acquired 55,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $18.12 per share, with a total value of $996,600.00. Following the transaction, the director now owns 1,805,000 shares of the company’s stock, valued at approximately $32,706,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.28% of the company’s stock.

Hedge Funds Weigh In On Titan Machinery

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in Titan Machinery in the 2nd quarter valued at approximately $36,000. Canada Pension Plan Investment Board purchased a new stake in Titan Machinery during the 2nd quarter valued at $37,000. nVerses Capital LLC raised its stake in Titan Machinery by 118.2% during the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $38,000 after buying an additional 1,300 shares during the last quarter. Quest Partners LLC purchased a new stake in Titan Machinery during the 4th quarter valued at $165,000. Finally, Waterfront Wealth Inc. purchased a new stake in Titan Machinery during the 2nd quarter valued at $177,000. 78.38% of the stock is owned by institutional investors.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. 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.