Brandywine Global Investment Management LLC raised its position in Titan Machinery Inc. (NASDAQ:TITN – Free Report) by 40.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 54,337 shares of the company’s stock after buying an additional 15,773 shares during the period. Brandywine Global Investment Management LLC owned about 0.24% of Titan Machinery worth $1,655,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dorsey Wright & Associates bought a new position in Titan Machinery in the fourth quarter valued at approximately $39,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Titan Machinery during the 4th quarter valued at $41,000. ICA Group Wealth Management LLC acquired a new position in shares of Titan Machinery in the 4th quarter valued at $49,000. Assetmark Inc. grew its stake in shares of Titan Machinery by 18.1% during the fourth quarter. Assetmark Inc. now owns 1,524 shares of the company’s stock worth $61,000 after purchasing an additional 234 shares during the period. Finally, Quarry LP increased its holdings in Titan Machinery by 204.2% in the first quarter. Quarry LP now owns 1,597 shares of the company’s stock valued at $49,000 after purchasing an additional 1,072 shares during the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on TITN shares. Northland Securities began coverage on Titan Machinery in a research report on Wednesday, July 12th. They set an “outperform” rating for the company. B. Riley reissued a “buy” rating and set a $44.00 price target on shares of Titan Machinery in a research report on Friday, September 1st. StockNews.com assumed coverage on shares of Titan Machinery in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Stephens reiterated an “overweight” rating and set a $46.00 target price on shares of Titan Machinery in a report on Thursday, August 31st. Finally, Lake Street Capital initiated coverage on Titan Machinery in a report on Tuesday, July 25th. They issued a “buy” rating and a $50.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.
Titan Machinery Trading Down 3.9 %
Shares of NASDAQ:TITN opened at $27.48 on Monday. The firm has a market cap of $628.19 million, a price-to-earnings ratio of 5.29 and a beta of 1.67. Titan Machinery Inc. has a 12 month low of $24.90 and a 12 month high of $47.87. The company’s fifty day simple moving average is $30.07 and its 200 day simple moving average is $31.01. The company has a quick ratio of 0.24, a current ratio of 1.50 and a debt-to-equity ratio of 0.15.
Titan Machinery (NASDAQ:TITN – Get Free Report) last released its quarterly earnings results on Thursday, August 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.21. The firm had revenue of $642.60 million for the quarter, compared to the consensus estimate of $599.86 million. Titan Machinery had a return on equity of 21.40% and a net margin of 4.78%. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter last year, the business posted $1.10 EPS. As a group, research analysts forecast that Titan Machinery Inc. will post 4.98 EPS for the current fiscal year.
Titan Machinery Profile
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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