Titan Machinery Inc. (NASDAQ:TITN) Stock Holdings Boosted by Summit Global Investments

Summit Global Investments raised its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,255 shares of the company’s stock after purchasing an additional 7,900 shares during the quarter. Summit Global Investments owned about 0.20% of Titan Machinery worth $1,336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC boosted its position in shares of Titan Machinery by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 23,303 shares of the company’s stock worth $673,000 after buying an additional 391 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Titan Machinery by 3.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 16,252 shares of the company’s stock worth $432,000 after buying an additional 469 shares during the period. Deutsche Bank AG boosted its position in shares of Titan Machinery by 0.5% in the third quarter. Deutsche Bank AG now owns 284,603 shares of the company’s stock worth $7,565,000 after buying an additional 1,312 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Titan Machinery by 13.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 11,583 shares of the company’s stock worth $335,000 after buying an additional 1,379 shares during the period. Finally, Truvestments Capital LLC boosted its position in shares of Titan Machinery by 30.7% in the third quarter. Truvestments Capital LLC now owns 7,367 shares of the company’s stock worth $196,000 after buying an additional 1,731 shares during the period. 78.38% of the stock is owned by institutional investors.

Titan Machinery Price Performance

NASDAQ TITN traded up $0.40 during trading hours on Friday, reaching $22.82. 116,638 shares of the company’s stock were exchanged, compared to its average volume of 156,486. The stock has a market cap of $520.75 million, a PE ratio of 4.62 and a beta of 1.41. Titan Machinery Inc. has a one year low of $21.44 and a one year high of $35.88. The firm has a fifty day moving average of $24.13 and a 200-day moving average of $25.61. The company has a current ratio of 1.32, a quick ratio of 0.19 and a debt-to-equity ratio of 0.16.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Thursday, March 21st. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $852.10 million for the quarter, compared to analyst estimates of $734.99 million. Titan Machinery had a return on equity of 18.40% and a net margin of 4.08%. Titan Machinery’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 EPS. On average, equities research analysts predict that Titan Machinery Inc. will post 3.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TITN. Stephens reiterated an “overweight” rating and set a $42.00 price objective on shares of Titan Machinery in a report on Friday, January 12th. TheStreet lowered Titan Machinery from a “b-” rating to a “c+” rating in a report on Monday, February 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Titan Machinery has an average rating of “Moderate Buy” and a consensus target price of $45.33.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. 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.