Lake Street Capital Reiterates Hold Rating for Titan Machinery (NASDAQ:TITN)

Titan Machinery (NASDAQ:TITN)‘s stock had its “hold” rating reissued by equities research analysts at Lake Street Capital in a research report issued to clients and investors on Friday, MarketBeat.com reports. They currently have a $18.00 price target on the stock, up from their previous price target of $15.00. Lake Street Capital’s price target indicates a potential downside of 9.59% from the company’s current price.

A number of other research firms also recently issued reports on TITN. B. Riley initiated coverage on Titan Machinery in a report on Thursday, March 27th. They set a “neutral” rating and a $19.00 price objective for the company. Northland Capmk upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. Robert W. Baird cut their target price on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Northland Securities upgraded 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, April 11th. Finally, Baird R W upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $20.40.

Titan Machinery Stock Down 1.1%

Shares of Titan Machinery stock opened at $19.91 on Friday. Titan Machinery has a 1 year low of $12.30 and a 1 year high of $23.41. The business has a 50-day moving average of $17.44 and a two-hundred day moving average of $16.27. The company has a market capitalization of $459.64 million, a P/E ratio of 14.86 and a beta of 1.35. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Thursday, May 22nd. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.21. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The company had revenue of $594.34 million during the quarter, compared to the consensus estimate of $445.76 million.

Insider Transactions at Titan Machinery

In related news, Chairman David Joseph Meyer acquired 3,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the purchase, the chairman now directly owns 138,388 shares in the company, valued at approximately $2,333,221.68. This trade represents a 2.22% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 26,182 shares of company stock worth $439,661 in the last 90 days. Corporate insiders own 10.28% of the company’s stock.

Institutional Investors Weigh In On Titan Machinery

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caxton Associates LLP bought a new stake in shares of Titan Machinery during the 1st quarter worth approximately $461,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Titan Machinery during the 1st quarter worth approximately $379,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Titan Machinery by 109.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,817,108 shares of the company’s stock worth $30,964,000 after purchasing an additional 948,707 shares in the last quarter. Royal Bank of Canada raised its stake in Titan Machinery by 8.1% in the 1st quarter. Royal Bank of Canada now owns 66,882 shares of the company’s stock valued at $1,140,000 after acquiring an additional 4,988 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in Titan Machinery in the 1st quarter valued at $4,969,000. 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.