Titan Machinery Inc. (NASDAQ:TITN) Stake Raised by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of Titan Machinery Inc. (NASDAQ:TITNGet Rating) by 29.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,131,889 shares of the company’s stock after buying an additional 257,428 shares during the period. Principal Financial Group Inc. owned 5.02% of Titan Machinery worth $25,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TITN. Exchange Traded Concepts LLC increased its stake in shares of Titan Machinery by 4.4% during the second quarter. Exchange Traded Concepts LLC now owns 17,822 shares of the company’s stock valued at $399,000 after acquiring an additional 749 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Titan Machinery by 6.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,830 shares of the company’s stock valued at $288,000 after acquiring an additional 749 shares during the period. Truist Financial Corp increased its stake in shares of Titan Machinery by 5.8% during the first quarter. Truist Financial Corp now owns 14,681 shares of the company’s stock valued at $415,000 after acquiring an additional 810 shares during the period. MetLife Investment Management LLC increased its stake in shares of Titan Machinery by 16.0% during the first quarter. MetLife Investment Management LLC now owns 9,539 shares of the company’s stock valued at $270,000 after acquiring an additional 1,313 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Titan Machinery during the first quarter valued at approximately $54,000. Institutional investors own 79.77% of the company’s stock.

Titan Machinery Trading Up 0.8 %

Titan Machinery stock opened at $34.53 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.56 and a current ratio of 1.77. The firm has a market cap of $779.34 million, a price-to-earnings ratio of 8.99 and a beta of 1.63. Titan Machinery Inc. has a 1 year low of $21.50 and a 1 year high of $38.58. The firm’s 50 day moving average price is $31.50 and its two-hundred day moving average price is $28.31.

Titan Machinery (NASDAQ:TITNGet Rating) last posted its quarterly earnings data on Thursday, August 25th. The company reported $1.10 EPS for the quarter, topping 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 firm had revenue of $496.50 million during the quarter, compared to analyst estimates of $439.78 million. During the same quarter last year, the business posted $0.57 EPS. The company’s revenue was up 31.5% on a year-over-year basis. On average, research analysts predict that Titan Machinery Inc. will post 3.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Titan Machinery

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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.

Further Reading

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

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