Titan Machinery (NASDAQ:TITN) Lifted to Outperform at William Blair

William Blair upgraded shares of Titan Machinery (NASDAQ:TITN) from a market perform rating to an outperform rating in a research report released on Wednesday morning, AR Network reports. William Blair also issued estimates for Titan Machinery’s Q3 2021 earnings at $0.47 EPS, Q4 2021 earnings at $0.13 EPS, FY2021 earnings at $1.05 EPS and FY2022 earnings at $1.30 EPS.

TITN has been the topic of a number of other research reports. BidaskClub upgraded Titan Machinery from a hold rating to a buy rating in a report on Thursday, September 3rd. ValuEngine downgraded Titan Machinery from a hold rating to a sell rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $14.00.

NASDAQ TITN opened at $16.07 on Wednesday. The stock’s 50-day moving average price is $13.97 and its two-hundred day moving average price is $11.37. The company has a current ratio of 1.55, a quick ratio of 0.28 and a debt-to-equity ratio of 0.14. The company has a market cap of $362.06 million, a PE ratio of 20.60 and a beta of 1.94. Titan Machinery has a 1 year low of $6.96 and a 1 year high of $18.17.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.31. The firm had revenue of $303.50 million for the quarter, compared to the consensus estimate of $266.93 million. Titan Machinery had a return on equity of 5.86% and a net margin of 1.32%. The company’s revenue was down 3.7% on a year-over-year basis. Research analysts forecast that Titan Machinery will post 0.81 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its position in Titan Machinery by 1.0% during the first quarter. Alliancebernstein L.P. now owns 253,133 shares of the company’s stock worth $2,200,000 after purchasing an additional 2,500 shares during the period. Geode Capital Management LLC boosted its position in Titan Machinery by 9.2% during the first quarter. Geode Capital Management LLC now owns 277,664 shares of the company’s stock worth $2,412,000 after purchasing an additional 23,502 shares during the period. Invesco Ltd. boosted its position in Titan Machinery by 20.4% during the first quarter. Invesco Ltd. now owns 580,623 shares of the company’s stock worth $5,046,000 after purchasing an additional 98,392 shares during the period. Advisor Group Holdings Inc. bought a new stake in Titan Machinery during the first quarter worth approximately $182,000. Finally, SG Americas Securities LLC bought a new stake in Titan Machinery during the second quarter worth approximately $113,000. Hedge funds and other institutional investors own 76.30% 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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