BlueMountain Capital Management LLC purchased a new position in shares of Titan Machinery Inc. (NASDAQ:TITN) in the second quarter, according to its most recent filing with the SEC. The firm purchased 55,415 shares of the company’s stock, valued at approximately $862,000. BlueMountain Capital Management LLC owned 0.25% of Titan Machinery at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Trexquant Investment LP acquired a new stake in Titan Machinery in the first quarter valued at $554,000. Prudential Financial Inc. lifted its holdings in Titan Machinery by 238.9% in the first quarter. Prudential Financial Inc. now owns 60,479 shares of the company’s stock valued at $1,424,000 after acquiring an additional 42,635 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Titan Machinery by 13.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 56,323 shares of the company’s stock valued at $1,327,000 after acquiring an additional 6,724 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Titan Machinery by 22.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 88,603 shares of the company’s stock valued at $2,088,000 after acquiring an additional 16,408 shares during the period. Finally, ClariVest Asset Management LLC lifted its holdings in Titan Machinery by 83.1% in the first quarter. ClariVest Asset Management LLC now owns 124,714 shares of the company’s stock valued at $2,939,000 after acquiring an additional 56,602 shares during the period. Hedge funds and other institutional investors own 82.55% of the company’s stock.
TITN has been the subject of a number of recent analyst reports. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday, May 29th. BidaskClub raised Titan Machinery from a “sell” rating to a “hold” rating in a report on Wednesday, May 30th. Finally, ValuEngine downgraded Titan Machinery from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $22.75.
Titan Machinery stock opened at $17.28 on Friday. Titan Machinery Inc. has a one year low of $13.50 and a one year high of $25.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.43 and a quick ratio of 0.29. The firm has a market capitalization of $398.59 million, a price-to-earnings ratio of -144.00 and a beta of 1.62.
Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, August 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.16. Titan Machinery had a return on equity of 2.16% and a net margin of 0.63%. The company had revenue of $299.89 million during the quarter, compared to the consensus estimate of $291.08 million. During the same quarter last year, the company earned ($0.04) earnings per share. Titan Machinery’s quarterly revenue was up 11.5% compared to the same quarter last year. analysts predict that Titan Machinery Inc. will post 0.63 earnings per share for the current year.
Titan Machinery 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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