TITN has been the subject of a number of other reports. Zacks Investment Research raised Titan Machinery from a hold rating to a strong-buy rating and set a $19.00 price target for the company in a research note on Tuesday, June 4th. ValuEngine raised Titan Machinery from a hold rating to a buy rating in a research note on Thursday, June 27th. Finally, Robert W. Baird raised Titan Machinery from a neutral rating to an outperform rating and lifted their target price for the company from $18.00 to $24.00 in a research report on Sunday, June 16th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $21.50.
Shares of TITN stock opened at $18.99 on Friday. Titan Machinery has a 52-week low of $11.99 and a 52-week high of $21.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.31. The company has a market cap of $442.35 million, a price-to-earnings ratio of 28.34 and a beta of 2.13. The business’s 50 day simple moving average is $19.85.
In other Titan Machinery news, COO Bryan J. Knutson sold 3,711 shares of Titan Machinery stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $19.71, for a total transaction of $73,143.81. Following the completion of the sale, the chief operating officer now directly owns 28,315 shares of the company’s stock, valued at approximately $558,088.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tony Christianson sold 22,000 shares of Titan Machinery stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $19.63, for a total value of $431,860.00. Following the sale, the director now directly owns 42,076 shares of the company’s stock, valued at $825,951.88. The disclosure for this sale can be found here. Insiders own 15.37% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Aperio Group LLC bought a new stake in Titan Machinery during the 2nd quarter valued at $29,000. Public Employees Retirement System of Ohio increased its holdings in shares of Titan Machinery by 51.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,534 shares of the company’s stock valued at $33,000 after acquiring an additional 866 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Titan Machinery by 33.3% in the 4th quarter. Macquarie Group Ltd. now owns 3,199 shares of the company’s stock valued at $42,000 after acquiring an additional 800 shares during the period. Legal & General Group Plc increased its holdings in shares of Titan Machinery by 51.7% in the 4th quarter. Legal & General Group Plc now owns 4,110 shares of the company’s stock valued at $55,000 after acquiring an additional 1,400 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Titan Machinery by 108.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,143 shares of the company’s stock valued at $64,000 after acquiring an additional 2,151 shares during the period. 79.22% of the stock is owned by institutional investors and hedge funds.
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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