Robert W. Baird Raises Titan Machinery (NASDAQ:TITN) Price Target to $32.00

Titan Machinery (NASDAQ:TITNGet Rating) had its price target boosted by research analysts at Robert W. Baird from $30.00 to $32.00 in a research note issued on Thursday, The Fly reports. Robert W. Baird’s target price would indicate a potential upside of 19.36% from the company’s current price.

Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Titan Machinery from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Thursday. StockNews.com initiated coverage on Titan Machinery in a report on Thursday, March 31st. They set a “strong-buy” rating for the company. One analyst has 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. According to MarketBeat, Titan Machinery presently has a consensus rating of “Buy” and a consensus target price of $34.50.

TITN traded up $1.91 during midday trading on Thursday, hitting $26.81. The company’s stock had a trading volume of 208,974 shares, compared to its average volume of 167,192. The company has a current ratio of 1.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.17. The firm has a market cap of $605.10 million, a P/E ratio of 9.15 and a beta of 1.65. The firm has a 50-day moving average price of $26.03 and a two-hundred day moving average price of $29.66. Titan Machinery has a 52-week low of $22.01 and a 52-week high of $38.58.

Titan Machinery (NASDAQ:TITNGet Rating) last posted its quarterly earnings results on Thursday, May 26th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.53 by $0.26. The company had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $409.00 million. Titan Machinery had a return on equity of 16.68% and a net margin of 3.86%. The firm’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. On average, equities analysts expect that Titan Machinery will post 3 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TITN. Goldman Sachs Group Inc. boosted its holdings in Titan Machinery by 58.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 516,769 shares of the company’s stock worth $17,410,000 after acquiring an additional 189,843 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Titan Machinery by 166.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 278,594 shares of the company’s stock worth $7,873,000 after acquiring an additional 173,881 shares during the period. JPMorgan Chase & Co. boosted its holdings in Titan Machinery by 675.9% in the 4th quarter. JPMorgan Chase & Co. now owns 170,503 shares of the company’s stock worth $5,745,000 after acquiring an additional 148,527 shares during the period. Prudential Financial Inc. raised its position in shares of 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 in the last quarter. Finally, Millennium Management LLC raised its position in shares of Titan Machinery by 165.8% in the 3rd quarter. Millennium Management LLC now owns 179,412 shares of the company’s stock valued at $4,649,000 after purchasing an additional 111,913 shares in the last quarter. Hedge funds and other institutional investors own 78.45% of the company’s stock.

Titan Machinery Company Profile (Get Rating)

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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