Brokerages Set Titan Machinery Inc. (NASDAQ:TITN) PT at $45.33

Shares of Titan Machinery Inc. (NASDAQ:TITN) have received an average recommendation of “Buy” from the four ratings firms that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $45.33.

TITN has been the topic of a number of research analyst reports. TheStreet lowered shares of Titan Machinery from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of Titan Machinery in a research note on Friday, January 12th.

Institutional Investors Weigh In On Titan Machinery

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC increased its position in shares of Titan Machinery by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 23,303 shares of the company’s stock valued at $673,000 after acquiring an additional 391 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Titan Machinery by 3.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,252 shares of the company’s stock worth $432,000 after purchasing an additional 469 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Titan Machinery by 0.5% in the 3rd quarter. Deutsche Bank AG now owns 284,603 shares of the company’s stock valued at $7,565,000 after buying an additional 1,312 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Titan Machinery by 13.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 11,583 shares of the company’s stock valued at $335,000 after buying an additional 1,379 shares in the last quarter. Finally, Truvestments Capital LLC increased its holdings in Titan Machinery by 30.7% during the third quarter. Truvestments Capital LLC now owns 7,367 shares of the company’s stock worth $196,000 after buying an additional 1,731 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Titan Machinery Stock Performance

Shares of Titan Machinery stock opened at $21.81 on Thursday. The stock’s fifty day simple moving average is $24.34 and its 200 day simple moving average is $25.68. The company has a current ratio of 1.32, a quick ratio of 0.19 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $497.70 million, a PE ratio of 4.41 and a beta of 1.41. Titan Machinery has a 12 month low of $21.44 and a 12 month high of $35.88.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Thursday, March 21st. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. Titan Machinery had a return on equity of 18.40% and a net margin of 4.08%. The company had revenue of $852.10 million for the quarter, compared to analyst estimates of $734.99 million. During the same quarter last year, the firm posted $0.81 earnings per share. Titan Machinery’s revenue was up 46.2% compared to the same quarter last year. On average, research analysts predict that Titan Machinery will post 3.35 EPS for the current year.

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.