Titan Machinery Inc. $TITN Shares Bought by EVR Research LP

EVR Research LP grew its position in Titan Machinery Inc. (NASDAQ:TITN) by 25.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 250,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Titan Machinery comprises approximately 2.5% of EVR Research LP’s investment portfolio, making the stock its 12th biggest holding. EVR Research LP’s holdings in Titan Machinery were worth $4,185,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TITN. New York State Teachers Retirement System purchased a new stake in shares of Titan Machinery during the 3rd quarter valued at $32,000. Tower Research Capital LLC TRC boosted its position in shares of Titan Machinery by 352.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock worth $52,000 after purchasing an additional 2,043 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Titan Machinery by 94.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,032 shares of the company’s stock worth $67,000 after buying an additional 1,957 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Titan Machinery by 14.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,341 shares of the company’s stock valued at $140,000 after buying an additional 1,063 shares in the last quarter. Finally, AlphaQuest LLC increased its position in Titan Machinery by 9,628.1% during the 3rd quarter. AlphaQuest LLC now owns 8,658 shares of the company’s stock valued at $145,000 after buying an additional 8,569 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TITN has been the subject of several recent analyst reports. Robert W. Baird reissued a “neutral” rating and issued a $21.00 price target (down from $24.00) on shares of Titan Machinery in a report on Monday, December 1st. Wall Street Zen upgraded shares of Titan Machinery from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Titan Machinery in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.50.

Titan Machinery Stock Performance

Shares of TITN opened at $17.35 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.24 and a current ratio of 1.36. The stock has a 50-day moving average of $17.74 and a two-hundred day moving average of $17.27. The stock has a market cap of $405.47 million, a P/E ratio of -6.38 and a beta of 1.23. Titan Machinery Inc. has a one year low of $12.50 and a one year high of $23.41.

Titan Machinery Company Profile

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.