Titan Machinery Inc. (NASDAQ:TITN) Given Average Rating of “Moderate Buy” by Brokerages

Titan Machinery Inc. (NASDAQ:TITN) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $19.80.

A number of equities analysts have recently commented on the company. Robert W. Baird dropped their target price on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Northland Securities raised shares of Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research note on Friday. Finally, B. Riley began coverage on shares of Titan Machinery in a research note on Thursday, March 27th. They set a “neutral” rating and a $19.00 price target for the company.

Titan Machinery Trading Up 4.7 %

Shares of NASDAQ TITN opened at $16.34 on Friday. Titan Machinery has a 1-year low of $12.30 and a 1-year high of $24.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The business’s 50 day moving average is $16.62 and its two-hundred day moving average is $15.42. The stock has a market capitalization of $377.88 million, a P/E ratio of 12.19 and a beta of 1.27.

Insiders Place Their Bets

In related news, Chairman David Joseph Meyer acquired 3,000 shares of the stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $16.86 per share, with a total value of $50,580.00. Following the transaction, the chairman now directly owns 138,388 shares in the company, valued at approximately $2,333,221.68. This represents a 2.22 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired a total of 26,182 shares of company stock worth $439,661 over the last quarter. Company insiders own 10.28% of the company’s stock.

Institutional Trading of Titan Machinery

Several institutional investors and hedge funds have recently modified their holdings of TITN. Barclays PLC increased its holdings in Titan Machinery by 287.0% during the 3rd quarter. Barclays PLC now owns 31,872 shares of the company’s stock worth $444,000 after purchasing an additional 23,637 shares during the period. Sanctuary Advisors LLC grew its position in shares of Titan Machinery by 53.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,550 shares of the company’s stock worth $387,000 after buying an additional 8,942 shares in the last quarter. FMR LLC increased its stake in shares of Titan Machinery by 142.5% during the third quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $73,000 after buying an additional 3,092 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Titan Machinery by 91.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock valued at $122,000 after acquiring an additional 4,103 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Titan Machinery by 5.1% in the 4th quarter. Empowered Funds LLC now owns 20,000 shares of the company’s stock valued at $283,000 after purchasing an additional 962 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

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.