Titan Machinery (NASDAQ:TITN) Trading 5.5% Higher on Analyst Upgrade

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Titan Machinery Inc. (NASDAQ:TITNGet Rating) traded up 5.5% on Monday after Robert W. Baird raised their price target on the stock from $27.00 to $32.00. Robert W. Baird currently has a neutral rating on the stock. Titan Machinery traded as high as $24.11 and last traded at $24.11. 565 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 168,461 shares. The stock had previously closed at $22.85.

Other research analysts have also recently issued research reports about the stock. StockNews.com began coverage on shares of Titan Machinery in a research note on Thursday, March 31st. They set a “strong-buy” rating for the company. Stephens dropped their price objective on shares of Titan Machinery from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, May 27th. Finally, TheStreet lowered shares of Titan Machinery from a “b” rating to a “c+” rating in a report on Thursday, May 26th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $37.67.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its position in Titan Machinery by 166.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 278,594 shares of the company’s stock worth $7,873,000 after buying an additional 173,881 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Titan Machinery by 89.1% in the 1st quarter. Prudential Financial Inc. now owns 258,894 shares of the company’s stock valued at $7,316,000 after purchasing an additional 122,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in Titan Machinery by 65.8% in the 1st quarter. JPMorgan Chase & Co. now owns 282,713 shares of the company’s stock valued at $7,990,000 after purchasing an additional 112,210 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Titan Machinery by 10.3% during the 1st quarter. Principal Financial Group Inc. now owns 874,461 shares of the company’s stock worth $24,712,000 after acquiring an additional 81,605 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Titan Machinery by 15.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 588,788 shares of the company’s stock worth $19,836,000 after acquiring an additional 77,750 shares during the period. 78.45% of the stock is currently owned by institutional investors and hedge funds.

The company has a market cap of $533.78 million, a P/E ratio of 7.30 and a beta of 1.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.61 and a current ratio of 1.79. The stock’s fifty day moving average price is $24.37 and its two-hundred day moving average price is $27.63.

Titan Machinery (NASDAQ:TITNGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.26. Titan Machinery had a net margin of 4.06% and a return on equity of 17.72%. The firm had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $409.00 million. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue was up 23.7% on a year-over-year basis. On average, equities research analysts forecast that Titan Machinery Inc. will post 3.14 EPS for the current year.

Titan Machinery Company Profile (NASDAQ:TITN)

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores in the United States and Europe. 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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