Titan Machinery (NASDAQ:TITN) Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Titan Machinery (NASDAQ:TITN) from a hold rating to a sell rating in a research report report published on Thursday, BidAskClub reports.

A number of other equities analysts have also recently issued reports on TITN. Zacks Investment Research cut shares of Titan Machinery from a hold rating to a strong sell rating in a report on Friday, November 29th. Stephens reissued a hold rating and issued a $23.00 target price on shares of Titan Machinery in a report on Wednesday, November 27th. Finally, ValuEngine raised shares of Titan Machinery from a sell rating to a hold rating in a report on Friday, November 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $22.00.

NASDAQ TITN traded down $0.14 during trading hours on Thursday, reaching $13.08. The company’s stock had a trading volume of 113,512 shares, compared to its average volume of 137,838. The company has a current ratio of 1.41, a quick ratio of 0.27 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $14.17 and a 200 day simple moving average of $16.28. Titan Machinery has a 52 week low of $12.88 and a 52 week high of $21.88. The stock has a market cap of $295.52 million, a PE ratio of 26.16 and a beta of 2.31.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Tuesday, November 26th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.03). Titan Machinery had a return on equity of 4.88% and a net margin of 0.85%. The business had revenue of $360.90 million during the quarter, compared to the consensus estimate of $373.65 million. During the same period in the prior year, the business earned $0.49 EPS. The business’s revenue was up .0% on a year-over-year basis. As a group, equities analysts predict that Titan Machinery will post 0.8 EPS for the current year.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Titan Machinery by 1.5% in the second quarter. Vanguard Group Inc. now owns 876,113 shares of the company’s stock valued at $18,030,000 after purchasing an additional 12,897 shares during the period. Granahan Investment Management Inc. MA increased its stake in shares of Titan Machinery by 12.5% in the third quarter. Granahan Investment Management Inc. MA now owns 825,142 shares of the company’s stock valued at $11,833,000 after purchasing an additional 91,802 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Titan Machinery in the second quarter valued at approximately $8,449,000. State Street Corp increased its stake in shares of Titan Machinery by 1.5% in the third quarter. State Street Corp now owns 376,880 shares of the company’s stock valued at $5,404,000 after purchasing an additional 5,459 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Titan Machinery by 0.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 294,613 shares of the company’s stock valued at $6,064,000 after purchasing an additional 1,248 shares during the period. Institutional investors own 76.70% of the company’s stock.

About Titan Machinery

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 Industrial family of brands, as well as equipment from various other manufacturers.

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