Titan Machinery Inc. (NASDAQ:TITN) Given Consensus Recommendation of “Buy” by Analysts

Titan Machinery Inc. (NASDAQ:TITN) has received a consensus rating of “Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research 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 12-month 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. Robert W. Baird lowered 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 research note on Thursday, March 27th. They set a “neutral” rating and a $19.00 price target on the stock. Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Northland Securities upgraded 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 report on Friday, April 11th. 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.

Insiders Place Their Bets

In related news, Chairman David Joseph Meyer purchased 3,000 shares of the business’s stock in a transaction on Monday, March 24th. The shares were bought at an average price of $16.86 per share, with a total value of $50,580.00. Following the completion of the purchase, the chairman now directly owns 138,388 shares in the company, valued at approximately $2,333,221.68. This trade represents a 2.22% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 26,182 shares of company stock valued at $439,661 over the last quarter. Company insiders own 10.28% of the company’s stock.

Institutional Investors Weigh In On Titan Machinery

Several large investors have recently made changes to their positions in TITN. R Squared Ltd acquired a new stake in shares of Titan Machinery in the fourth quarter worth $26,000. Russell Investments Group Ltd. increased its position in shares of Titan Machinery by 51.2% in the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock worth $37,000 after acquiring an additional 882 shares in the last quarter. US Bancorp DE increased its position in shares of Titan Machinery by 23.8% in the fourth quarter. US Bancorp DE now owns 3,861 shares of the company’s stock worth $55,000 after acquiring an additional 741 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Titan Machinery by 42.8% in the first quarter. New York State Common Retirement Fund now owns 4,674 shares of the company’s stock worth $80,000 after acquiring an additional 1,400 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Titan Machinery by 91.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock worth $122,000 after acquiring an additional 4,103 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Stock Performance

NASDAQ:TITN opened at $19.36 on Wednesday. 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 fifty-two week low of $12.30 and a fifty-two week high of $24.25. The stock has a market cap of $446.94 million, a PE ratio of 14.45 and a beta of 1.35. The firm’s fifty day simple moving average is $16.24 and its 200-day simple moving average is $15.83.

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.