Titan Machinery (NASDAQ:TITN) Downgraded by BidaskClub

BidaskClub cut shares of Titan Machinery (NASDAQ:TITN) from a buy rating to a hold rating in a research report released on Saturday morning, BidAskClub reports.

Several other research firms have also commented on TITN. Zacks Investment Research lowered shares of Titan Machinery from a hold rating to a strong sell rating in a report on Friday, November 29th. ValuEngine raised shares of Titan Machinery from a sell rating to a hold rating in a report on Friday, November 29th. Finally, Stephens reaffirmed a hold rating and issued a $23.00 price target on shares of Titan Machinery in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $22.00.

Shares of TITN opened at $13.90 on Friday. The firm has a market capitalization of $309.60 million, a PE ratio of 20.75 and a beta of 2.31. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.41 and a quick ratio of 0.27. Titan Machinery has a 1-year low of $12.88 and a 1-year high of $21.88. The company’s fifty day moving average price is $14.17 and its 200-day moving average price is $16.57.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Tuesday, November 26th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.03). The company had revenue of $360.90 million for the quarter, compared to analysts’ expectations of $373.65 million. Titan Machinery had a net margin of 0.85% and a return on equity of 4.88%. Titan Machinery’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. As a group, research analysts anticipate that Titan Machinery will post 0.8 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Titan Machinery by 1.5% in the second quarter. Vanguard Group Inc. now owns 876,113 shares of the company’s stock valued at $18,030,000 after purchasing an additional 12,897 shares during the last quarter. Granahan Investment Management Inc. MA raised its position in shares of Titan Machinery by 12.5% in the third quarter. Granahan Investment Management Inc. MA now owns 825,142 shares of the company’s stock worth $11,833,000 after acquiring an additional 91,802 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Titan Machinery in the second quarter worth about $8,449,000. State Street Corp raised its position in shares of Titan Machinery by 1.5% in the third quarter. State Street Corp now owns 376,880 shares of the company’s stock worth $5,404,000 after acquiring an additional 5,459 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Titan Machinery by 0.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 294,613 shares of the company’s stock worth $6,064,000 after acquiring an additional 1,248 shares during the period. 76.56% of the stock is currently owned by institutional investors.

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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