Truvestments Capital LLC Makes New Investment in Titan Machinery Inc. (NASDAQ:TITN)

Truvestments Capital LLC purchased a new position in shares of Titan Machinery Inc. (NASDAQ:TITN) during the third quarter, HoldingsChannel reports. The firm purchased 2,917 shares of the company’s stock, valued at approximately $41,000.

A number of other institutional investors have also recently bought and sold shares of TITN. Innealta Capital LLC acquired a new position in Titan Machinery during the second quarter worth approximately $36,000. Canada Pension Plan Investment Board acquired a new position in shares of Titan Machinery in the second quarter valued at approximately $37,000. nVerses Capital LLC grew its position in shares of Titan Machinery by 118.2% in the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $38,000 after purchasing an additional 1,300 shares during the last quarter. US Bancorp DE grew its position in shares of Titan Machinery by 116.2% in the third quarter. US Bancorp DE now owns 3,120 shares of the company’s stock valued at $43,000 after purchasing an additional 1,677 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Titan Machinery in the third quarter valued at approximately $105,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

TITN has been the subject of several recent research reports. B. Riley cut their price target on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Northland Capmk cut Titan Machinery from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 20th. Craig Hallum cut their price target on Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Robert W. Baird cut their price target on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, Northland Securities reiterated a “market perform” rating and issued a $25.00 price target on shares of Titan Machinery in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.00.

Titan Machinery Stock Down 2.4 %

NASDAQ TITN opened at $15.69 on Thursday. The business has a fifty day moving average price of $14.30 and a two-hundred day moving average price of $15.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.13. Titan Machinery Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $29.30. The stock has a market capitalization of $362.91 million, a PE ratio of 6.06 and a beta of 1.25.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, August 29th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.09). Titan Machinery had a return on equity of 10.38% and a net margin of 2.11%. The business had revenue of $633.70 million for the quarter, compared to the consensus estimate of $645.28 million. During the same quarter in the previous year, the company earned $1.38 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts expect that Titan Machinery Inc. will post 0.21 earnings per share for the current fiscal year.

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.