Titan Machinery (NASDAQ:TITN) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Titan Machinery (NASDAQ:TITN) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other equities analysts have also recently issued reports on TITN. Robert W. Baird cut their price objective on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Titan Machinery in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.50.

Titan Machinery Price Performance

TITN stock opened at $17.48 on Friday. The stock has a market capitalization of $408.16 million, a PE ratio of -7.34 and a beta of 1.26. The company’s 50-day moving average is $17.76 and its 200-day moving average is $16.77. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 0.24. Titan Machinery has a 1 year low of $13.21 and a 1 year high of $23.41.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Thursday, March 19th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.44). The company had revenue of $641.83 million for the quarter, compared to the consensus estimate of $615.53 million. Titan Machinery had a negative return on equity of 8.40% and a negative net margin of 2.23%.

Hedge Funds Weigh In On Titan Machinery

Several hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Titan Machinery by 1.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,817,554 shares of the company’s stock worth $30,426,000 after buying an additional 23,272 shares in the last quarter. Nantahala Capital Management LLC lifted its stake in Titan Machinery by 11.3% in the fourth quarter. Nantahala Capital Management LLC now owns 1,220,520 shares of the company’s stock valued at $18,357,000 after purchasing an additional 124,288 shares during the last quarter. Vanguard Group Inc. grew its holdings in Titan Machinery by 4.1% during the third quarter. Vanguard Group Inc. now owns 1,214,954 shares of the company’s stock valued at $20,338,000 after purchasing an additional 48,343 shares during the period. First Eagle Investment Management LLC grew its holdings in Titan Machinery by 0.3% during the third quarter. First Eagle Investment Management LLC now owns 749,563 shares of the company’s stock valued at $12,548,000 after purchasing an additional 2,000 shares during the period. Finally, Royce & Associates LP grew its holdings in Titan Machinery by 18.7% during the fourth quarter. Royce & Associates LP now owns 743,175 shares of the company’s stock valued at $11,177,000 after purchasing an additional 117,108 shares during the period. Institutional investors own 78.38% of the company’s stock.

About Titan Machinery

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.