Strs Ohio Lowers Position in Titan Machinery Inc. (NASDAQ:TITN)

Strs Ohio cut its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,400 shares of the company’s stock after selling 800 shares during the quarter. Strs Ohio owned about 0.09% of Titan Machinery worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TITN. American Century Companies Inc. grew its holdings in shares of Titan Machinery by 241.0% during the 3rd quarter. American Century Companies Inc. now owns 721,521 shares of the company’s stock worth $19,178,000 after purchasing an additional 509,919 shares during the period. Voss Capital LLC purchased a new position in Titan Machinery during the 3rd quarter valued at about $4,173,000. Global Alpha Capital Management Ltd. boosted its holdings in Titan Machinery by 9.2% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 969,218 shares of the company’s stock valued at $25,762,000 after acquiring an additional 82,000 shares during the period. Smith Graham & Co. Investment Advisors LP boosted its holdings in Titan Machinery by 20.3% during the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 286,708 shares of the company’s stock valued at $8,280,000 after acquiring an additional 48,438 shares during the period. Finally, Algert Global LLC boosted its holdings in Titan Machinery by 39.0% during the 3rd quarter. Algert Global LLC now owns 130,356 shares of the company’s stock valued at $3,465,000 after acquiring an additional 36,574 shares during the period. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Titan Machinery Stock Performance

Shares of TITN opened at $22.70 on Friday. The stock has a 50-day simple moving average of $24.50 and a 200-day simple moving average of $25.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.19 and a current ratio of 1.32. The stock has a market capitalization of $518.01 million, a PE ratio of 4.60 and a beta of 1.41. Titan Machinery Inc. has a 1 year low of $21.44 and a 1 year high of $35.88.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Thursday, March 21st. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The business had revenue of $852.10 million during the quarter, compared to analysts’ expectations of $734.99 million. Titan Machinery had a return on equity of 18.40% and a net margin of 4.08%. The business’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. On average, analysts predict that Titan Machinery Inc. will post 3.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TITN has been the subject of a number of research analyst reports. TheStreet cut Titan Machinery from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Stephens restated an “overweight” rating and set a $42.00 target price on shares of Titan Machinery in a report on Friday, January 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.33.

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.