Brokerages Set Titan Machinery Inc. (TITN) Target Price at $21.75
Titan Machinery Inc. (NASDAQ:TITN) has been given a consensus recommendation of “Buy” by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $21.75.
A number of research analysts have issued reports on the company. BidaskClub raised Titan Machinery from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 5th. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Wednesday, December 6th. Piper Jaffray Companies reissued a “hold” rating on shares of Titan Machinery in a research note on Thursday, September 28th. Robert W. Baird reissued an “outperform” rating and issued a $25.00 target price (up from $18.00) on shares of Titan Machinery in a research note on Friday, December 1st. Finally, ValuEngine raised Titan Machinery from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th.
Shares of Titan Machinery (TITN) traded down $0.27 during trading on Friday, hitting $21.71. The company had a trading volume of 367,800 shares, compared to its average volume of 138,778. The company has a quick ratio of 0.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.31. Titan Machinery has a twelve month low of $11.68 and a twelve month high of $23.12.
Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Thursday, November 30th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.12. Titan Machinery had a negative return on equity of 2.29% and a negative net margin of 1.44%. The business had revenue of $330.34 million during the quarter, compared to analysts’ expectations of $306.74 million. During the same period in the previous year, the firm earned ($0.01) earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. equities research analysts anticipate that Titan Machinery will post -0.19 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers grew its stake in Titan Machinery by 2.6% in the second quarter. Rhumbline Advisers now owns 21,909 shares of the company’s stock valued at $394,000 after acquiring an additional 545 shares during the period. Voya Investment Management LLC boosted its position in shares of Titan Machinery by 14.2% during the second quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock worth $207,000 after buying an additional 1,429 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Titan Machinery by 14.1% during the second quarter. The Manufacturers Life Insurance Company now owns 16,622 shares of the company’s stock worth $298,000 after buying an additional 2,054 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in shares of Titan Machinery by 29.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock worth $235,000 after buying an additional 2,939 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Titan Machinery by 4.8% during the first quarter. Goldman Sachs Group Inc. now owns 71,486 shares of the company’s stock worth $1,096,000 after buying an additional 3,244 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.
About Titan Machinery
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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