Titan Machinery Inc. (NASDAQ:TITN) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its stake in Titan Machinery Inc. (NASDAQ:TITNGet Rating) by 989.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 64,694 shares of the company’s stock after acquiring an additional 58,755 shares during the quarter. Lazard Asset Management LLC owned 0.29% of Titan Machinery worth $1,449,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TITN. Point72 Hong Kong Ltd acquired a new position in shares of Titan Machinery in the 1st quarter worth approximately $54,000. Amalgamated Bank acquired a new position in shares of Titan Machinery in the 1st quarter worth approximately $66,000. Counterpoint Mutual Funds LLC lifted its holdings in shares of Titan Machinery by 67.9% in the 2nd quarter. Counterpoint Mutual Funds LLC now owns 5,324 shares of the company’s stock worth $119,000 after acquiring an additional 2,154 shares during the last quarter. Horizon Investment Services LLC acquired a new stake in Titan Machinery during the 1st quarter worth approximately $201,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Titan Machinery during the 2nd quarter worth approximately $203,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery Trading Up 0.5 %

Shares of NASDAQ:TITN opened at $34.24 on Friday. Titan Machinery Inc. has a 52 week low of $21.50 and a 52 week high of $38.58. The company’s 50 day moving average is $31.44 and its two-hundred day moving average is $28.21. The company has a current ratio of 1.77, a quick ratio of 0.56 and a debt-to-equity ratio of 0.18. The company has a market cap of $772.80 million, a PE ratio of 8.92 and a beta of 1.63.

Titan Machinery (NASDAQ:TITNGet Rating) last announced its quarterly earnings data on Thursday, August 25th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.39. Titan Machinery had a net margin of 4.52% and a return on equity of 19.61%. The company had revenue of $496.50 million for the quarter, compared to the consensus estimate of $439.78 million. During the same period in the prior year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 31.5% compared to the same quarter last year. Equities analysts predict that Titan Machinery Inc. will post 3.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TITN. TheStreet upgraded shares of Titan Machinery from a “c+” rating to a “b” rating in a report on Friday, August 26th. Robert W. Baird increased their target price on shares of Titan Machinery from $27.00 to $34.00 in a report on Thursday, August 25th. StockNews.com began coverage on shares of Titan Machinery in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Stephens increased their target price on shares of Titan Machinery to $46.00 in a report on Monday, August 29th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Titan Machinery Profile

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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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Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

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