Titan Machinery (NASDAQ:TITN) Raised to Outperform at Northland Securities

Northland Securities upgraded shares of Titan Machinery (NASDAQ:TITN) from a market perform rating to an outperform rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has $25.00 target price on the stock.

A number of other analysts have also recently commented on TITN. Robert W. Baird dropped their price target on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. B. Riley began coverage on Titan Machinery in a research note on Thursday, March 27th. They issued a “neutral” rating and a $19.00 target price on the stock. Finally, Baird R W raised Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Titan Machinery has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.

Titan Machinery Trading Up 4.7 %

Shares of NASDAQ TITN opened at $16.34 on Friday. Titan Machinery has a 1 year low of $12.30 and a 1 year high of $24.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The firm has a 50-day moving average of $16.62 and a 200 day moving average of $15.42. The stock has a market cap of $377.88 million, a P/E ratio of 12.19 and a beta of 1.27.

Insiders Place Their Bets

In related news, Chairman David Joseph Meyer purchased 3,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were purchased at an average price of $16.86 per share, with a total value of $50,580.00. Following the acquisition, the chairman now directly owns 138,388 shares in the company, valued at $2,333,221.68. The trade was a 2.22 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders acquired 26,182 shares of company stock valued at $439,661. Corporate insiders own 10.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TITN. R Squared Ltd bought a new stake in Titan Machinery in the 4th quarter worth approximately $26,000. Russell Investments Group Ltd. boosted its stake in shares of Titan Machinery by 51.2% in the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock worth $37,000 after buying an additional 882 shares during the last quarter. US Bancorp DE grew its holdings in shares of Titan Machinery by 23.8% in the fourth quarter. US Bancorp DE now owns 3,861 shares of the company’s stock worth $55,000 after acquiring an additional 741 shares during the period. FMR LLC increased its position in Titan Machinery by 142.5% during the third quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $73,000 after acquiring an additional 3,092 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Titan Machinery by 91.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock valued at $122,000 after acquiring an additional 4,103 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.