Shares of Titan Machinery Inc. (NASDAQ:TITN) have been assigned a consensus rating of “Buy” from the six analysts that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $31.75.
A number of analysts have issued reports on the company. Robert W. Baird lifted their price target on Titan Machinery from $31.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, May 27th. Stephens raised Titan Machinery from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $26.00 to $40.00 in a report on Friday, May 28th. Finally, Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, May 27th.
NASDAQ:TITN traded down $0.81 during midday trading on Friday, reaching $28.76. The company had a trading volume of 1,884 shares, compared to its average volume of 191,181. The firm has a market cap of $647.68 million, a price-to-earnings ratio of 24.24 and a beta of 1.78. The business’s fifty day simple moving average is $29.53. Titan Machinery has a 12-month low of $10.44 and a 12-month high of $35.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.90 and a quick ratio of 0.56.
In other news, Director Tony Christianson sold 10,781 shares of the business’s stock in a transaction dated Thursday, June 10th. The stock was sold at an average price of $31.38, for a total value of $338,307.78. Following the completion of the sale, the director now directly owns 50,325 shares of the company’s stock, valued at approximately $1,579,198.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Joseph Meyer sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 1st. The shares were sold at an average price of $32.02, for a total value of $3,202,000.00. Following the completion of the sale, the chief executive officer now directly owns 212,864 shares of the company’s stock, valued at $6,815,905.28. The disclosure for this sale can be found here. Insiders sold a total of 221,182 shares of company stock valued at $7,012,253 over the last three months. Company insiders own 15.37% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Dorsey Wright & Associates increased its position in Titan Machinery by 135.0% in the 1st quarter. Dorsey Wright & Associates now owns 1,551 shares of the company’s stock valued at $40,000 after acquiring an additional 891 shares during the period. Lazard Asset Management LLC acquired a new position in Titan Machinery in the 1st quarter valued at about $81,000. Capital Asset Advisory Services LLC acquired a new position in Titan Machinery in the 4th quarter valued at about $68,000. Citigroup Inc. increased its position in Titan Machinery by 297.6% in the 4th quarter. Citigroup Inc. now owns 3,638 shares of the company’s stock valued at $71,000 after acquiring an additional 2,723 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Titan Machinery by 79.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,070 shares of the company’s stock valued at $231,000 after acquiring an additional 4,010 shares during the period. Hedge funds and other institutional investors own 73.66% of the company’s stock.
About Titan Machinery
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores in the United States and Europe. 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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