Zacks Investment Research upgraded shares of Titan Machinery (NASDAQ:TITN) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday. They currently have $20.00 price target 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 research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Titan Machinery from a hold rating to a buy rating in a research report on Thursday, August 30th. BidaskClub upgraded shares of Titan Machinery from a sell rating to a hold rating in a research report on Saturday, September 1st. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Titan Machinery currently has a consensus rating of Buy and an average target price of $22.75.
Titan Machinery stock opened at $17.84 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.34 and a current ratio of 1.66. Titan Machinery has a 12-month low of $13.04 and a 12-month high of $25.09. The firm has a market cap of $382.20 million, a P/E ratio of -148.67 and a beta of 1.62.
Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, August 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 the consensus estimate of $291.08 million. During the same quarter in the previous year, the company earned ($0.04) EPS. Titan Machinery’s quarterly revenue was up 11.5% compared to the same quarter last year. equities research analysts expect that Titan Machinery will post 0.63 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in TITN. Citigroup Inc. raised its holdings in Titan Machinery by 794.6% during the first quarter. Citigroup Inc. now owns 5,672 shares of the company’s stock worth $133,000 after buying an additional 5,038 shares during the last quarter. Smith Asset Management Group LP raised its holdings in Titan Machinery by 190.3% during the second quarter. Smith Asset Management Group LP now owns 9,793 shares of the company’s stock worth $152,000 after buying an additional 6,420 shares during the last quarter. Sun Life Financial INC acquired a new position in Titan Machinery during the second quarter worth $187,000. First Republic Investment Management Inc. acquired a new position in Titan Machinery during the first quarter worth $236,000. Finally, Gamco Investors INC. ET AL acquired a new position in Titan Machinery during the second quarter worth $311,000. Institutional investors own 82.55% 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 family of brands, as well as equipment from various other manufacturers.
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