SummerHaven Investment Management LLC increased its position in Titan Machinery Inc. (NASDAQ:TITN – Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 51,255 shares of the company’s stock after buying an additional 768 shares during the period. SummerHaven Investment Management LLC owned about 0.22% of Titan Machinery worth $873,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Titan Machinery by 51.2% in the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock worth $37,000 after acquiring an additional 882 shares during the period. US Bancorp DE grew its holdings in Titan Machinery by 23.8% during the 4th quarter. US Bancorp DE now owns 3,861 shares of the company’s stock valued at $55,000 after buying an additional 741 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Titan Machinery by 91.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock valued at $122,000 after buying an additional 4,103 shares in the last quarter. Meixler Investment Management Ltd. purchased a new position in shares of Titan Machinery in the fourth quarter worth $142,000. Finally, LPL Financial LLC bought a new position in shares of Titan Machinery during the fourth quarter worth $175,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Robert W. Baird decreased their price target on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Northland Securities raised Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Friday, April 11th. Lake Street Capital reissued a “hold” rating and set a $18.00 price target (up from $15.00) on shares of Titan Machinery in a research note on Friday, May 23rd. Northland Capmk raised Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. Finally, B. Riley upped their price objective on Titan Machinery from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $21.00.
Insider Buying and Selling at Titan Machinery
In other Titan Machinery news, Chairman David Joseph Meyer acquired 22,524 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average price of $16.83 per share, for a total transaction of $379,078.92. Following the acquisition, the chairman now directly owns 135,388 shares in the company, valued at $2,278,580.04. The trade was a 19.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 26,182 shares of company stock worth $439,661 over the last 90 days. Company insiders own 10.84% of the company’s stock.
Titan Machinery Price Performance
Shares of Titan Machinery stock opened at $20.08 on Thursday. The stock has a 50 day moving average price of $18.11 and a 200-day moving average price of $16.68. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $23.41. The stock has a market cap of $463.55 million, a price-to-earnings ratio of 14.99 and a beta of 1.35. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32.
Titan Machinery (NASDAQ:TITN – Get Free Report) last announced its earnings results on Thursday, May 22nd. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.21. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The business had revenue of $594.34 million for the quarter, compared to the consensus estimate of $445.76 million.
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.
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