American Century Companies Inc. Purchases 11,575 Shares of Titan Machinery Inc. $TITN

American Century Companies Inc. raised its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,241,212 shares of the company’s stock after purchasing an additional 11,575 shares during the quarter. American Century Companies Inc. owned 5.38% of Titan Machinery worth $21,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Titan Machinery by 5.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 868,401 shares of the company’s stock worth $12,270,000 after purchasing an additional 48,445 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Titan Machinery by 7.9% during the first quarter. Deutsche Bank AG now owns 644,747 shares of the company’s stock worth $10,986,000 after purchasing an additional 47,033 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of Titan Machinery during the first quarter worth $10,716,000. Royce & Associates LP lifted its position in shares of Titan Machinery by 500.2% during the first quarter. Royce & Associates LP now owns 452,570 shares of the company’s stock worth $7,712,000 after purchasing an additional 377,170 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Titan Machinery by 8.0% during the first quarter. Victory Capital Management Inc. now owns 382,431 shares of the company’s stock worth $6,517,000 after purchasing an additional 28,320 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TITN has been the subject of several research analyst reports. B. Riley lifted their target price on Titan Machinery from $19.00 to $22.00 and gave the stock 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 research report on Saturday, August 9th. Finally, Lake Street Capital reissued a “hold” rating and set a $18.00 price target (up previously from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Titan Machinery presently has an average rating of “Buy” and a consensus price target of $22.25.

Titan Machinery Price Performance

TITN opened at $20.58 on Friday. The company has a market capitalization of $474.99 million, a price-to-earnings ratio of -7.83 and a beta of 1.37. The company has a current ratio of 1.33, a quick ratio of 0.18 and a debt-to-equity ratio of 0.33. Titan Machinery Inc. has a 12-month low of $12.50 and a 12-month high of $23.41. The business’s fifty day simple moving average is $19.77 and its 200-day simple moving average is $18.32.

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

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.