Titan Machinery (TITN) Stock Rating Upgraded by William Blair

Titan Machinery (NASDAQ:TITN) was upgraded by analysts at William Blair from an “underperform” rating to a “market perform” rating in a note issued to investors on Tuesday. William Blair also issued estimates for Titan Machinery’s FY2019 earnings at $0.55 EPS.

TITN has been the topic of a number of other research reports. Piper Jaffray Companies reiterated a “hold” rating on shares of Titan Machinery in a research report on Thursday, September 28th. Robert W. Baird reiterated an “outperform” rating and issued a $25.00 target price (up previously from $18.00) on shares of Titan Machinery in a research report on Friday, December 1st. Zacks Investment Research cut Titan Machinery from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. BidaskClub upgraded Titan Machinery from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. Finally, ValuEngine upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $21.75.

Shares of Titan Machinery (TITN) traded up $0.07 during midday trading on Tuesday, hitting $21.74. The company had a trading volume of 317,900 shares, compared to its average volume of 290,400. The company has a quick ratio of 0.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.31. Titan Machinery has a 52 week low of $11.68 and a 52 week high of $23.12. The company has a market capitalization of $478.79, a PE ratio of -27.87 and a beta of 1.76.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, November 30th. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.12. Titan Machinery had a negative return on equity of 2.29% and a negative net margin of 1.44%. The company had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $306.74 million. During the same quarter last year, the business earned ($0.01) earnings per share. Titan Machinery’s revenue was down .6% on a year-over-year basis. research analysts anticipate that Titan Machinery will post -0.19 earnings per share for the current year.

In other news, CEO David Joseph Meyer sold 61,796 shares of Titan Machinery stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total transaction of $1,350,242.60. Following the sale, the chief executive officer now directly owns 715,864 shares of the company’s stock, valued at $15,641,628.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.08% of the company’s stock.

Several hedge funds have recently made changes to their positions in TITN. Public Employees Retirement System of Ohio acquired a new stake in shares of Titan Machinery during the third quarter valued at about $155,000. Numeric Investors LLC acquired a new stake in shares of Titan Machinery during the second quarter valued at about $191,000. Voya Investment Management LLC boosted its stake in shares of Titan Machinery by 14.2% during the second quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock valued at $207,000 after purchasing an additional 1,429 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Titan Machinery during the third quarter valued at about $211,000. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Titan Machinery by 29.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock valued at $235,000 after purchasing an additional 2,939 shares in the last quarter. 76.20% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Titan Machinery (TITN) Stock Rating Upgraded by William Blair” was originally posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://www.chaffeybreeze.com/2018/01/04/titan-machinery-titn-stock-rating-upgraded-by-william-blair.html.

Titan Machinery Company Profile

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.

Receive News & Ratings for Titan Machinery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Machinery and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply