Titan Machinery (TITN) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of Titan Machinery (NASDAQ:TITN) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Titan Machinery from a buy rating to a hold rating in a research note on Wednesday, March 7th. William Blair raised Titan Machinery from an underperform rating to a market perform rating in a research note on Tuesday, January 2nd. Piper Jaffray Companies set a $19.00 price target on Titan Machinery and gave the company a hold rating in a research note on Friday, December 1st. Finally, Robert W. Baird reissued an outperform rating and issued a $25.00 price target (up previously from $18.00) on shares of Titan Machinery in a research note on Friday, December 1st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $23.00.

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Titan Machinery (NASDAQ TITN) opened at $19.16 on Friday. Titan Machinery has a twelve month low of $11.68 and a twelve month high of $24.19. The firm has a market capitalization of $423.34, a PE ratio of -24.56, a price-to-earnings-growth ratio of 4.48 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 1.70.

In other Titan Machinery news, CEO David Joseph Meyer sold 61,796 shares of Titan Machinery stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total value of $1,350,242.60. Following the sale, the chief executive officer now owns 715,864 shares of the company’s stock, valued at approximately $15,641,628.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.08% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of Titan Machinery by 14.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,114,632 shares of the company’s stock valued at $17,310,000 after purchasing an additional 137,008 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Titan Machinery in the fourth quarter valued at about $14,904,000. Granahan Investment Management Inc. MA increased its position in shares of Titan Machinery by 36.1% in the third quarter. Granahan Investment Management Inc. MA now owns 530,067 shares of the company’s stock valued at $8,232,000 after acquiring an additional 140,498 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Titan Machinery by 839.2% in the fourth quarter. Renaissance Technologies LLC now owns 379,447 shares of the company’s stock valued at $8,033,000 after acquiring an additional 339,047 shares during the last quarter. Finally, State Street Corp increased its position in shares of Titan Machinery by 10.1% in the second quarter. State Street Corp now owns 328,539 shares of the company’s stock valued at $5,910,000 after acquiring an additional 30,139 shares during the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

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Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.

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