Analysts Set Titan Machinery Inc. (NASDAQ:TITN) Price Target at $22.25

Shares of Titan Machinery Inc. (NASDAQ:TITN) have been given a consensus rating of “Buy” by the six brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $22.25.

A number of research firms have commented on TITN. B. Riley lifted their target price on Titan Machinery from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, May 27th. Wall Street Zen downgraded Titan Machinery from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Lake Street Capital reaffirmed a “hold” rating and set a $18.00 price objective (up from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd.

Titan Machinery Stock Performance

Shares of Titan Machinery stock opened at $19.46 on Friday. Titan Machinery has a one year low of $12.50 and a one year high of $23.41. The company has a market cap of $449.14 million, a price-to-earnings ratio of -7.40 and a beta of 1.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.18 and a current ratio of 1.33. The business’s 50 day moving average price is $19.75 and its 200 day moving average price is $18.28.

Titan Machinery (NASDAQ:TITN) last posted its earnings results on Thursday, May 22nd. The company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.21. Titan Machinery had a negative return on equity of 8.22% and a negative net margin of 2.23%. The company had revenue of $594.34 million for the quarter, compared to the consensus estimate of $445.76 million.

Institutional Trading of Titan Machinery

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC purchased a new position in shares of Titan Machinery during the 4th quarter worth approximately $175,000. Vanguard Group Inc. grew its holdings in shares of Titan Machinery by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company’s stock worth $16,860,000 after acquiring an additional 4,955 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Titan Machinery by 2.1% in the 4th quarter. JPMorgan Chase & Co. now owns 176,652 shares of the company’s stock worth $2,496,000 after acquiring an additional 3,626 shares during the period. Geode Capital Management LLC grew its holdings in shares of Titan Machinery by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 482,744 shares of the company’s stock worth $6,823,000 after acquiring an additional 8,958 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Titan Machinery by 29.3% in the 4th quarter. Wells Fargo & Company MN now owns 12,397 shares of the company’s stock worth $175,000 after acquiring an additional 2,808 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.