Titan Machinery (NASDAQ:TITN) Downgraded by BidaskClub

BidaskClub downgraded shares of Titan Machinery (NASDAQ:TITN) from a buy rating to a hold rating in a report issued on Saturday, BidAskClub reports.

Several other research analysts have also issued reports on TITN. Stephens restated a hold rating and set a $23.00 target price on shares of Titan Machinery in a research report on Wednesday, November 27th. Zacks Investment Research lowered Titan Machinery from a hold rating to a strong sell rating in a research report on Friday, November 29th. Finally, ValuEngine upgraded Titan Machinery from a sell rating to a hold rating in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $22.00.

TITN opened at $13.90 on Friday. The firm has a market cap of $309.60 million, a P/E ratio of 20.75 and a beta of 2.31. Titan Machinery has a 12 month low of $12.88 and a 12 month high of $21.88. The company has a current ratio of 1.41, a quick ratio of 0.27 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $14.17 and a 200 day moving average of $16.57.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Tuesday, November 26th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.03). Titan Machinery had a return on equity of 4.88% and a net margin of 0.85%. The company had revenue of $360.90 million during the quarter, compared to analysts’ expectations of $373.65 million. During the same quarter in the prior year, the business posted $0.49 EPS. The company’s revenue was up .0% on a year-over-year basis. On average, research analysts forecast that Titan Machinery will post 0.8 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Titan Machinery by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 294,613 shares of the company’s stock valued at $6,064,000 after buying an additional 1,248 shares during the period. Bank of America Corp DE raised its stake in shares of Titan Machinery by 4.5% during the second quarter. Bank of America Corp DE now owns 34,907 shares of the company’s stock valued at $718,000 after acquiring an additional 1,491 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Titan Machinery by 14.7% during the second quarter. Cubist Systematic Strategies LLC now owns 12,311 shares of the company’s stock valued at $253,000 after acquiring an additional 1,577 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Titan Machinery during the second quarter valued at approximately $36,000. Finally, Boston Partners raised its stake in shares of Titan Machinery by 10.7% during the second quarter. Boston Partners now owns 20,636 shares of the company’s stock valued at $425,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 76.56% of the company’s stock.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. 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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