Titan Machinery Inc. (NASDAQ:TITN) Receives Average Rating of “Buy” from Brokerages

Shares of Titan Machinery Inc. (NASDAQ:TITN) have earned a consensus recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $19.80.

Several equities research analysts recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Northland Securities upgraded Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a report on Friday, April 11th. B. Riley assumed coverage on Titan Machinery in a research note on Thursday, March 27th. They issued a “neutral” rating and a $19.00 price target on the stock. Baird R W upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. Finally, Northland Capmk upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th.

Titan Machinery Price Performance

Titan Machinery stock opened at $15.99 on Friday. The company has a fifty day simple moving average of $16.45 and a 200-day simple moving average of $15.46. The firm has a market capitalization of $369.75 million, a price-to-earnings ratio of 11.93 and a beta of 1.27. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. Titan Machinery has a 52-week low of $12.30 and a 52-week high of $24.28.

Insiders Place Their Bets

In other Titan Machinery news, Chairman David Joseph Meyer acquired 22,524 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $16.83 per share, with a total value of $379,078.92. Following the purchase, the chairman now directly owns 135,388 shares in the company, valued at approximately $2,278,580.04. This trade represents a 19.96 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders have purchased 26,182 shares of company stock worth $439,661. Corporate insiders own 10.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TITN. American Century Companies Inc. boosted its holdings in shares of Titan Machinery by 0.5% in the 4th quarter. American Century Companies Inc. now owns 1,229,637 shares of the company’s stock valued at $17,375,000 after purchasing an additional 5,938 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Titan Machinery by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company’s stock valued at $16,860,000 after acquiring an additional 4,955 shares during the last quarter. William Blair Investment Management LLC grew its position in Titan Machinery by 2.0% during the fourth quarter. William Blair Investment Management LLC now owns 920,090 shares of the company’s stock valued at $13,001,000 after acquiring an additional 17,689 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Titan Machinery by 5.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 868,401 shares of the company’s stock worth $12,270,000 after acquiring an additional 48,445 shares during the last quarter. Finally, Voss Capital LP raised its holdings in shares of Titan Machinery by 141.7% in the 4th quarter. Voss Capital LP now owns 684,459 shares of the company’s stock worth $9,671,000 after purchasing an additional 401,302 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.