Titan Machinery Inc. (TITN) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Titan Machinery Inc. (NASDAQ:TITN) from a sell rating to a hold rating in a research note released on Thursday.

A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Titan Machinery from a hold rating to a sell rating in a research report on Thursday. Robert W. Baird set a $18.00 target price on Titan Machinery and gave the company a buy rating in a research report on Thursday, August 24th. Piper Jaffray Companies set a $18.00 target price on Titan Machinery and gave the company a hold rating in a research report on Friday, August 4th. Finally, BidaskClub downgraded Titan Machinery from a buy rating to a hold rating in a research report on Saturday, August 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $18.50.

Shares of Titan Machinery (NASDAQ:TITN) opened at 13.34 on Thursday. The company’s 50-day moving average price is $16.18 and its 200 day moving average price is $15.99. The stock’s market cap is $285.10 million. Titan Machinery has a 12-month low of $8.68 and a 12-month high of $19.22.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Thursday, August 31st. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.03. Titan Machinery had a negative return on equity of 3.69% and a negative net margin of 1.61%. The company had revenue of $268.87 million for the quarter, compared to analyst estimates of $260.08 million. During the same period last year, the firm posted ($0.12) EPS. The business’s quarterly revenue was down 3.4% on a year-over-year basis. On average, equities analysts predict that Titan Machinery will post ($0.21) earnings per share for the current year.

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In other news, Director Stan K. Erickson acquired 8,302 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average price of $12.50 per share, for a total transaction of $103,775.00. Following the acquisition, the director now owns 13,495 shares of the company’s stock, valued at $168,687.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 16.08% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TITN. Teachers Advisors LLC grew its stake in Titan Machinery by 6.9% during the 4th quarter. Teachers Advisors LLC now owns 31,879 shares of the company’s stock worth $464,000 after purchasing an additional 2,050 shares in the last quarter. Nationwide Fund Advisors grew its stake in Titan Machinery by 98.6% during the 1st quarter. Nationwide Fund Advisors now owns 65,032 shares of the company’s stock worth $998,000 after purchasing an additional 32,283 shares in the last quarter. Strs Ohio grew its stake in Titan Machinery by 2,023.1% during the 1st quarter. Strs Ohio now owns 27,600 shares of the company’s stock worth $423,000 after purchasing an additional 26,300 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Titan Machinery by 9.3% during the 1st quarter. Russell Investments Group Ltd. now owns 225,541 shares of the company’s stock worth $3,460,000 after purchasing an additional 19,200 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in Titan Machinery during the 1st quarter worth $1,159,000. 77.45% of the stock is owned by hedge funds and other institutional investors.

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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