Titan Machinery Inc. (NASDAQ:TITN) Given Consensus Rating of “Buy” by Brokerages

Posted by on May 28th, 2022

Titan Machinery Inc. (NASDAQ:TITN – Get Rating) has been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $34.75.

TITN has been the subject of a number of research reports. StockNews.com began coverage on shares of Titan Machinery in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. TheStreet downgraded shares of Titan Machinery from a “b” rating to a “c+” rating in a report on Thursday. Robert W. Baird upped their price target on shares of Titan Machinery from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday. Zacks Investment Research raised shares of Titan Machinery from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Thursday. Finally, Stephens reduced their price target on shares of Titan Machinery from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday.

TITN stock opened at $27.44 on Friday. The company has a market capitalization of $619.32 million, a P/E ratio of 9.37 and a beta of 1.65. Titan Machinery has a twelve month low of $22.01 and a twelve month high of $38.58. The business has a 50 day simple moving average of $25.87 and a 200-day simple moving average of $29.60. The company has a current ratio of 1.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.17.

Titan Machinery (NASDAQ:TITN – Get Rating) last released its quarterly earnings results on Thursday, May 26th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.53 by $0.26. Titan Machinery had a return on equity of 16.68% and a net margin of 3.86%. The business had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $409.00 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. Research analysts predict that Titan Machinery will post 3 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Koshinski Asset Management Inc. increased its holdings in Titan Machinery by 699.3% in the fourth quarter. Koshinski Asset Management Inc. now owns 1,151 shares of the company’s stock valued at $39,000 after buying an additional 1,007 shares during the last quarter. First Quadrant LLC CA bought a new stake in Titan Machinery in the first quarter valued at about $37,000. Robeco Institutional Asset Management B.V. bought a new stake in Titan Machinery in the fourth quarter valued at about $53,000. Point72 Hong Kong Ltd bought a new stake in Titan Machinery in the first quarter valued at about $54,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Titan Machinery during the first quarter valued at approximately $90,000. 78.45% of the stock is currently owned by institutional investors and hedge funds.

About Titan Machinery (Get Rating)

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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