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Titan Machinery (NASDAQ:TITN – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.
Several other analysts also recently issued reports on the stock. Stephens lowered their price objective on shares of Titan Machinery from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, May 27th. Robert W. Baird raised their price objective on Titan Machinery from $27.00 to $34.00 in a research note on Thursday. Finally, TheStreet cut Titan Machinery from a “b” rating to a “c+” rating in a research note on Thursday, May 26th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.33.
Titan Machinery Trading Down 2.5 %
NASDAQ:TITN traded down $0.83 on Friday, reaching $31.97. The stock had a trading volume of 311,742 shares, compared to its average volume of 166,996. The company has a market cap of $721.50 million, a price-to-earnings ratio of 9.87 and a beta of 1.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.79 and a quick ratio of 0.61. The firm’s fifty day moving average is $26.81 and its two-hundred day moving average is $26.86. Titan Machinery has a 12-month low of $21.50 and a 12-month high of $38.58.
Titan Machinery (NASDAQ:TITN – Get Rating) last posted its earnings results on Thursday, August 25th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.40. Titan Machinery had a net margin of 4.06% and a return on equity of 17.72%. The firm had revenue of $496.50 million during the quarter, compared to the consensus estimate of $439.78 million. During the same quarter in the prior year, the company earned $0.57 EPS. The company’s revenue was up 31.5% on a year-over-year basis. Equities analysts expect that Titan Machinery will post 3.19 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Gladius Capital Management LP acquired a new position in Titan Machinery during the second quarter worth about $27,000. First Quadrant LLC CA acquired a new position in Titan Machinery during the first quarter worth about $37,000. Point72 Hong Kong Ltd purchased a new position in Titan Machinery in the 1st quarter worth about $54,000. Amalgamated Bank acquired a new stake in Titan Machinery during the 1st quarter worth about $66,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Titan Machinery during the 1st quarter worth about $90,000. 78.45% of the stock is owned by institutional investors and hedge funds.
About Titan Machinery
(Get Rating)
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores in the United States and Europe. It operates through three segments: Agriculture, Construction, and International. 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.
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