Brokerages Set Titan Machinery Inc. (NASDAQ:TITN) Target Price at $19.80

Shares of Titan Machinery Inc. (NASDAQ:TITN) have been given a consensus recommendation of “Buy” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $19.80.

A number of equities research analysts have recently issued reports on TITN shares. Robert W. Baird reduced their price target on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. B. Riley began coverage on shares of Titan Machinery in a report on Thursday, March 27th. They issued a “neutral” rating and a $19.00 price objective for the company. Northland Securities upgraded shares of Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Friday, April 11th. 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 report on Friday, April 11th.

Insiders Place Their Bets

In other news, Chairman David Joseph Meyer purchased 3,000 shares of the stock in a transaction on Monday, March 24th. The stock was bought at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the acquisition, the chairman now directly owns 138,388 shares of the company’s stock, valued at approximately $2,333,221.68. The trade was a 2.22% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought 26,182 shares of company stock worth $439,661 in the last 90 days. Corporate insiders own 10.28% of the company’s stock.

Institutional Trading of Titan Machinery

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

Titan Machinery Price Performance

Titan Machinery stock opened at $19.36 on Wednesday. The company’s 50 day simple moving average is $16.24 and its 200-day simple moving average is $15.83. The company has a market capitalization of $446.94 million, a price-to-earnings ratio of 14.45 and a beta of 1.35. Titan Machinery has a 1 year low of $12.30 and a 1 year high of $24.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32.

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.