Titan Machinery Inc. (NASDAQ:TITN) Shares Acquired by Royce & Associates LP

Royce & Associates LP boosted its stake in Titan Machinery Inc. (NASDAQ:TITN) by 500.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 452,570 shares of the company’s stock after purchasing an additional 377,170 shares during the quarter. Royce & Associates LP owned about 1.96% of Titan Machinery worth $7,712,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. purchased a new stake in shares of Titan Machinery during the 1st quarter valued at $10,716,000. Voss Capital LP boosted its holdings in Titan Machinery by 141.7% in the fourth quarter. Voss Capital LP now owns 684,459 shares of the company’s stock valued at $9,671,000 after acquiring an additional 401,302 shares during the last quarter. CenterBook Partners LP purchased a new stake in Titan Machinery during the fourth quarter valued at about $1,438,000. Bank of America Corp DE grew its position in Titan Machinery by 76.9% during the fourth quarter. Bank of America Corp DE now owns 153,787 shares of the company’s stock valued at $2,173,000 after acquiring an additional 66,853 shares during the period. Finally, Dauntless Investment Group LLC acquired a new stake in Titan Machinery during the fourth quarter worth about $738,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Stock Performance

Titan Machinery stock opened at $20.12 on Friday. The firm has a market capitalization of $464.37 million, a PE ratio of -7.65 and a beta of 1.35. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $23.41. The stock’s 50 day moving average price is $19.81 and its 200 day moving average price is $17.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.18 and a current ratio of 1.33.

Titan Machinery (NASDAQ:TITN) last posted its earnings results on Thursday, May 22nd. The company reported ($0.58) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.21. The business had revenue of $594.34 million for the quarter, compared to analysts’ expectations of $445.76 million. Titan Machinery had a negative net margin of 2.23% and a negative return on equity of 8.22%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TITN. B. Riley lifted their price objective on Titan Machinery from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, May 27th. Northland Capmk raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Lake Street Capital reiterated a “hold” rating and set a $18.00 price objective (up from $15.00) on shares of Titan Machinery in a research note on Friday, May 23rd. Northland Securities raised shares of Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research note on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Titan Machinery from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Three research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Titan Machinery Company Profile

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.