Rhumbline Advisers Grows Stock Holdings in Titan Machinery Inc. (NASDAQ:TITN)

Rhumbline Advisers increased its stake in Titan Machinery Inc. (NASDAQ:TITN) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,726 shares of the company’s stock after purchasing an additional 987 shares during the quarter. Rhumbline Advisers owned 0.15% of Titan Machinery worth $552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Advisors LLC bought a new position in shares of Titan Machinery during the 1st quarter valued at $1,095,000. Gabelli Funds LLC lifted its holdings in Titan Machinery by 31.4% in the fourth quarter. Gabelli Funds LLC now owns 92,000 shares of the company’s stock valued at $2,657,000 after acquiring an additional 22,000 shares during the period. Dimensional Fund Advisors LP boosted its position in Titan Machinery by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,783,274 shares of the company’s stock worth $51,501,000 after purchasing an additional 22,176 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Titan Machinery by 22.0% during the 1st quarter. First Eagle Investment Management LLC now owns 240,261 shares of the company’s stock valued at $5,961,000 after purchasing an additional 43,400 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Titan Machinery by 5.6% during the 1st quarter. Sei Investments Co. now owns 286,964 shares of the company’s stock valued at $7,120,000 after purchasing an additional 15,163 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Titan Machinery Stock Down 1.3 %

Shares of TITN stock opened at $13.38 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.13. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $29.30. The company’s fifty day moving average price is $14.85 and its 200-day moving average price is $18.69. The company has a market capitalization of $309.48 million, a price-to-earnings ratio of 3.22 and a beta of 1.26.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.09). The business had revenue of $633.70 million for the quarter, compared to the consensus estimate of $645.28 million. Titan Machinery had a net margin of 2.11% and a return on equity of 10.38%. Titan Machinery’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 earnings per share. Sell-side analysts expect that Titan Machinery Inc. will post 0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TITN shares. Craig Hallum dropped their price objective on shares of Titan Machinery from $25.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Northland Securities reiterated a “market perform” rating and set a $25.00 price target on shares of Titan Machinery in a research note on Friday, September 13th. Lake Street Capital lowered Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research note on Thursday, August 15th. B. Riley decreased their target price on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Finally, Northland Capmk lowered Titan Machinery from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.00.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. 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.