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.
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.
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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.
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