Posted by admin on Aug 13th, 2022 
Victory Capital Management Inc. lessened its position in shares of Titan Machinery Inc. (NASDAQ:TITN – Get Rating) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,171 shares of the company’s stock after selling 7,717 shares during the period. Victory Capital Management Inc. owned approximately 0.30% of Titan Machinery worth $1,898,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. lifted its stake in Titan Machinery by 0.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 88,509 shares of the company’s stock valued at $2,982,000 after purchasing an additional 425 shares during the last quarter. Truist Financial Corp increased its position in Titan Machinery by 5.8% in the 1st quarter. Truist Financial Corp now owns 14,681 shares of the company’s stock valued at $415,000 after acquiring an additional 810 shares during the period. Lazard Asset Management LLC increased its position in Titan Machinery by 23.0% in the 4th quarter. Lazard Asset Management LLC now owns 5,746 shares of the company’s stock valued at $193,000 after acquiring an additional 1,074 shares during the period. First Quadrant LLC CA acquired a new position in Titan Machinery in the 1st quarter valued at approximately $37,000. Finally, Acadian Asset Management LLC increased its position in Titan Machinery by 0.3% in the 4th quarter. Acadian Asset Management LLC now owns 509,845 shares of the company’s stock valued at $17,169,000 after acquiring an additional 1,353 shares during the period. Institutional investors own 78.45% of the company’s stock.
Shares of Titan Machinery stock opened at $30.89 on Friday. Titan Machinery Inc. has a one year low of $21.50 and a one year high of $38.58. 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 stock’s 50-day moving average is $25.63 and its 200 day moving average is $26.77. The firm has a market cap of $697.13 million, a price-to-earnings ratio of 9.53 and a beta of 1.71.
Titan Machinery (NASDAQ:TITN – Get Rating) last announced its earnings results on Thursday, May 26th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.51 by $0.28. Titan Machinery had a return on equity of 17.72% and a net margin of 4.06%. The company had revenue of $461.10 million for the quarter, compared to analyst estimates of $409.00 million. During the same quarter in the prior year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities research analysts anticipate that Titan Machinery Inc. will post 3.17 EPS for the current year.
Several equities analysts have issued reports on TITN shares. TheStreet cut shares of Titan Machinery from a “b” rating to a “c+” rating in a research report on Thursday, May 26th. Robert W. Baird upped their price target on shares of Titan Machinery from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, July 11th. Finally, Stephens decreased 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. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Titan Machinery currently has a consensus rating of “Buy” and an average price target of $37.67.
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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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