Zacks Investment Research upgraded shares of Titan Machinery (NASDAQ:TITN) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $22.00 target price on the stock.
According to Zacks, “Titan Machinery represents a diversified mix of agricultural, construction, and consumer products dealerships located in the upper Midwest. Their Shared Resource Headquarters is located in the heart of the Red River Valley in Fargo, ND. Titan Machinery is a dealer for Case IH, Case Construction, New Holland, and New Holland Construction. Titan Machinery also represents shortline equipment to meet specialized customer demand and niche product needs. “
Several other equities research analysts have also recently issued reports on TITN. ValuEngine upgraded Titan Machinery from a hold rating to a buy rating in a report on Friday, November 30th. BidaskClub upgraded Titan Machinery from a sell rating to a hold rating in a report on Saturday, January 5th. William Blair reiterated a market perform rating on shares of Titan Machinery in a report on Wednesday, January 30th. Finally, TheStreet upgraded Titan Machinery from a c+ rating to a b rating in a report on Wednesday, February 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $24.67.
TITN stock traded up $0.27 during trading on Wednesday, hitting $19.48. The stock had a trading volume of 96,036 shares, compared to its average volume of 147,681. The company has a current ratio of 1.49, a quick ratio of 0.32 and a debt-to-equity ratio of 0.08. Titan Machinery has a twelve month low of $11.99 and a twelve month high of $25.09. The stock has a market cap of $431.25 million, a price-to-earnings ratio of 32.35 and a beta of 2.14.
Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, November 29th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.13. Titan Machinery had a return on equity of 4.11% and a net margin of 1.28%. The company had revenue of $363.65 million for the quarter, compared to analysts’ expectations of $360.30 million. During the same period in the previous year, the firm posted $0.20 EPS. Titan Machinery’s revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts forecast that Titan Machinery will post 0.72 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Titan Machinery by 51.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,534 shares of the company’s stock worth $33,000 after purchasing an additional 866 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Titan Machinery by 33.3% during the 4th quarter. Macquarie Group Ltd. now owns 3,199 shares of the company’s stock worth $42,000 after purchasing an additional 800 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Titan Machinery during the 4th quarter worth approximately $48,000. Legal & General Group Plc boosted its holdings in shares of Titan Machinery by 51.7% during the 4th quarter. Legal & General Group Plc now owns 4,110 shares of the company’s stock worth $55,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Titan Machinery by 425.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,453 shares of the company’s stock worth $85,000 after purchasing an additional 5,225 shares during the last quarter. Institutional investors and hedge funds own 79.30% of the company’s stock.
Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH family of brands, as well as equipment from various other manufacturers.
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