Titan Machinery (NASDAQ:TITN) Upgraded by BidaskClub to “Buy”

Titan Machinery (NASDAQ:TITN) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday, June 29th, BidAskClub reports.

Other analysts also recently issued research reports about the stock. Robert W. Baird raised shares of Deere & Company from a “neutral” rating to an “outperform” rating and raised their price target for the company from $129.00 to $175.00 in a report on Sunday, June 16th. TheStreet downgraded shares of Titan Machinery from a “b” rating to a “c+” rating in a report on Thursday, March 28th. Zacks Investment Research raised shares of Investar from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, June 4th. Finally, ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $21.50.

NASDAQ TITN traded up $0.02 during trading on Friday, hitting $20.14. The company had a trading volume of 109,726 shares, compared to its average volume of 236,504. The firm has a market capitalization of $446.79 million, a P/E ratio of 30.06 and a beta of 2.15. The company has a current ratio of 1.39, a quick ratio of 0.31 and a debt-to-equity ratio of 0.36. Titan Machinery has a one year low of $11.99 and a one year high of $21.24. The stock has a fifty day simple moving average of $18.40.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. The business had revenue of $278.29 million during the quarter, compared to analyst estimates of $250.38 million. Titan Machinery had a net margin of 1.03% and a return on equity of 5.06%. Titan Machinery’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. As a group, equities research analysts expect that Titan Machinery will post 0.89 EPS for the current fiscal year.

In other Titan Machinery news, COO Bryan J. Knutson sold 3,711 shares of Titan Machinery stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $19.71, for a total transaction of $73,143.81. Following the completion of the transaction, the chief operating officer now directly owns 28,315 shares of the company’s stock, valued at $558,088.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tony Christianson sold 22,000 shares of Titan Machinery stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $19.63, for a total transaction of $431,860.00. Following the transaction, the director now directly owns 42,076 shares of the company’s stock, valued at $825,951.88. The disclosure for this sale can be found here. Company insiders own 15.37% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY boosted its stake in shares of Titan Machinery by 425.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,453 shares of the company’s stock valued at $85,000 after purchasing an additional 5,225 shares during the period. Walthausen & Co. LLC boosted its stake in shares of Titan Machinery by 5.7% during the fourth quarter. Walthausen & Co. LLC now owns 75,040 shares of the company’s stock valued at $987,000 after purchasing an additional 4,060 shares during the period. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Titan Machinery during the fourth quarter valued at $758,000. Millennium Management LLC boosted its stake in shares of Titan Machinery by 26.2% during the fourth quarter. Millennium Management LLC now owns 181,343 shares of the company’s stock valued at $2,385,000 after purchasing an additional 37,691 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Titan Machinery by 5.0% during the fourth quarter. BlackRock Inc. now owns 1,383,239 shares of the company’s stock valued at $18,188,000 after purchasing an additional 65,756 shares during the period. 79.06% of the stock is owned by institutional investors.

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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