Empowered Funds LLC acquired a new position in Titan Machinery Inc. (NASDAQ:TITN – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 130,331 shares of the company’s stock, valued at approximately $2,753,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada raised its stake in Titan Machinery by 8.1% during the 1st quarter. Royal Bank of Canada now owns 66,882 shares of the company’s stock valued at $1,140,000 after purchasing an additional 4,988 shares during the last quarter. Creative Planning grew its position in Titan Machinery by 25.9% in the 2nd quarter. Creative Planning now owns 19,124 shares of the company’s stock worth $379,000 after purchasing an additional 3,939 shares during the last quarter. JPMorgan Chase & Co. grew its position in Titan Machinery by 330.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 49,889 shares of the company’s stock worth $988,000 after purchasing an additional 38,296 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Titan Machinery during the 2nd quarter worth about $246,000. Finally, Jump Financial LLC increased its holdings in shares of Titan Machinery by 11.3% during the 2nd quarter. Jump Financial LLC now owns 38,300 shares of the company’s stock worth $759,000 after purchasing an additional 3,874 shares during the period. Institutional investors own 78.38% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Titan Machinery in a research note on Monday, June 29th. Robert W. Baird set a $29.00 price target on Titan Machinery and gave the company an “outperform” rating in a research note on Monday. Finally, Wall Street Zen cut Titan Machinery from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Titan Machinery has a consensus rating of “Hold” and a consensus price target of $29.00.
Titan Machinery Trading Up 13.9%
NASDAQ TITN opened at $23.39 on Thursday. Titan Machinery Inc. has a one year low of $13.21 and a one year high of $25.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 0.22. The firm has a market cap of $544.99 million, a P/E ratio of -9.39 and a beta of 1.43. The stock’s 50-day moving average is $19.04 and its 200-day moving average is $19.31.
Titan Machinery (NASDAQ:TITN – Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). The company had revenue of $496.38 million during the quarter, compared to the consensus estimate of $483.78 million. Titan Machinery had a negative net margin of 2.46% and a negative return on equity of 9.06%. Titan Machinery has set its FY 2027 guidance at -1.750–1.250 EPS. Sell-side analysts anticipate that Titan Machinery Inc. will post -1.63 earnings per share for the current fiscal year.
Titan Machinery Profile
Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.
Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.
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