Titan Machinery Inc. (NASDAQ:TITN) Receives $19.80 Average PT from Analysts

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

A number of research firms have recently weighed in on TITN. Northland Capmk raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Northland Securities raised shares of Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research report on Friday, April 11th. 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 report on Friday, March 21st. B. Riley assumed coverage on Titan Machinery in a report on Thursday, March 27th. They issued a “neutral” rating and a $19.00 price objective for the company. Finally, Baird R W raised Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th.

Titan Machinery Trading Down 0.7 %

NASDAQ TITN opened at $15.99 on Friday. The stock has a market cap of $369.75 million, a P/E ratio of 11.93 and a beta of 1.27. The company’s fifty day simple moving average is $16.45 and its 200-day simple moving average is $15.46. The company has a current ratio of 1.32, a quick ratio of 0.15 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.

Insider Activity

In other news, Chairman David Joseph Meyer bought 3,000 shares of the stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the purchase, the chairman now directly owns 138,388 shares of the company’s stock, valued at $2,333,221.68. This trade represents a 2.22 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 26,182 shares of company stock worth $439,661 over the last quarter. Corporate insiders own 10.28% of the company’s stock.

Hedge Funds Weigh In On Titan Machinery

Several hedge funds have recently bought and sold shares of the business. American Century Companies Inc. grew its holdings in Titan Machinery by 0.5% during the fourth 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. lifted its stake in shares of Titan Machinery by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company’s stock worth $16,860,000 after buying an additional 4,955 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Titan Machinery by 2.0% during the 4th quarter. William Blair Investment Management LLC now owns 920,090 shares of the company’s stock worth $13,001,000 after buying an additional 17,689 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 buying an additional 48,445 shares during the last quarter. Finally, Voss Capital LP raised its holdings in 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 acquiring an additional 401,302 shares during the period. 78.38% of the stock is 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.