Baird R W Upgrades Titan Machinery (NASDAQ:TITN) to Strong-Buy

Titan Machinery (NASDAQ:TITN) was upgraded by Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Robert W. Baird raised Titan Machinery from a “neutral” rating to an “outperform” rating and upped their target price for the company from $14.00 to $25.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.20.

Titan Machinery Price Performance

Shares of TITN opened at $17.39 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. The firm has a market cap of $402.23 million, a price-to-earnings ratio of 12.98 and a beta of 1.30. Titan Machinery has a 52 week low of $12.30 and a 52 week high of $28.29. The stock has a 50 day moving average of $14.73 and a 200-day moving average of $14.72.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The firm had revenue of $679.80 million during the quarter, compared to analyst estimates of $675.30 million. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, analysts forecast that Titan Machinery will post 0.05 EPS for the current year.

Hedge Funds Weigh In On Titan Machinery

Large investors have recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Titan Machinery in the fourth quarter valued at approximately $26,000. Sanctuary Advisors LLC increased its position in shares of Titan Machinery by 53.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,550 shares of the company’s stock valued at $387,000 after purchasing an additional 8,942 shares during the period. Barclays PLC raised its stake in shares of Titan Machinery by 287.0% in the 3rd quarter. Barclays PLC now owns 31,872 shares of the company’s stock worth $444,000 after buying an additional 23,637 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of Titan Machinery by 54.8% in the third quarter. M&T Bank Corp now owns 35,468 shares of the company’s stock valued at $495,000 after buying an additional 12,556 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Titan Machinery by 122.1% in the third quarter. Jane Street Group LLC now owns 56,375 shares of the company’s stock valued at $785,000 after buying an additional 30,997 shares during the period. Institutional investors and hedge funds own 78.38% 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, 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.