Zacks Investment Research upgraded shares of Titan Machinery (NASDAQ:TITN) from a hold rating to a strong-buy rating in a research note published on Tuesday morning. The firm currently has $20.00 target price on the stock.
According to Zacks, “Titan Machinery represents a diversified mix of agricultural, construction, and consumer products dealerships located in the upper Midwest. Their Shared Resource Headquarters is located in the heart of the Red River Valley in Fargo, ND. Titan Machinery is a dealer for Case IH, Case Construction, New Holland, and New Holland Construction. Titan Machinery also represents shortline equipment to meet specialized customer demand and niche product needs. “
Other equities research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Titan Machinery from a hold rating to a sell rating in a research note on Wednesday, July 11th. BidaskClub upgraded shares of Titan Machinery from a sell rating to a hold rating in a research note on Wednesday, May 30th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Titan Machinery has an average rating of Buy and an average target price of $22.75.
Shares of NASDAQ:TITN opened at $17.31 on Tuesday. Titan Machinery has a twelve month low of $12.56 and a twelve month high of $25.09. The company has a current ratio of 1.66, a quick ratio of 0.34 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $395.89 million, a PE ratio of -144.25 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, topping analysts’ consensus estimates of $0.12 by $0.16. Titan Machinery had a net margin of 0.63% and a return on equity of 2.17%. The company had revenue of $299.89 million for the quarter, compared to analysts’ expectations of $291.08 million. During the same quarter last year, the business earned ($0.04) EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. analysts expect that Titan Machinery will post 0.54 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. raised its stake in Titan Machinery by 794.6% during the 1st quarter. Citigroup Inc. now owns 5,672 shares of the company’s stock worth $133,000 after acquiring an additional 5,038 shares during the period. Smith Asset Management Group LP grew its holdings in Titan Machinery by 190.3% during the 2nd quarter. Smith Asset Management Group LP now owns 9,793 shares of the company’s stock valued at $152,000 after buying an additional 6,420 shares in the last quarter. Sun Life Financial INC purchased a new stake in Titan Machinery during the 2nd quarter valued at approximately $187,000. First Republic Investment Management Inc. purchased a new stake in Titan Machinery during the 1st quarter valued at approximately $236,000. Finally, Gamco Investors INC. ET AL purchased a new stake in Titan Machinery during the 2nd quarter valued at approximately $311,000. Institutional investors own 82.55% of the company’s stock.
Titan Machinery Company 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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