Victory Capital Management Inc. Grows Position in Titan Machinery Inc. (NASDAQ:TITN)

Victory Capital Management Inc. lifted its position in Titan Machinery Inc. (NASDAQ:TITNFree Report) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 281,520 shares of the company’s stock after buying an additional 9,734 shares during the period. Victory Capital Management Inc.’s holdings in Titan Machinery were worth $7,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TITN. JPMorgan Chase & Co. boosted its stake in shares of Titan Machinery by 65.8% in the 1st quarter. JPMorgan Chase & Co. now owns 282,713 shares of the company’s stock worth $7,990,000 after buying an additional 112,210 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Titan Machinery during the first quarter valued at $341,000. MetLife Investment Management LLC lifted its position in Titan Machinery by 16.0% during the first quarter. MetLife Investment Management LLC now owns 9,539 shares of the company’s stock valued at $270,000 after purchasing an additional 1,313 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Titan Machinery by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,683,465 shares of the company’s stock valued at $47,575,000 after purchasing an additional 25,662 shares in the last quarter. Finally, Aviva PLC purchased a new position in Titan Machinery during the first quarter valued at $760,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of Titan Machinery in a research report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Check Out Our Latest Analysis on TITN

Titan Machinery Price Performance

Shares of Titan Machinery stock opened at $26.36 on Wednesday. The stock’s 50-day simple moving average is $27.00 and its 200-day simple moving average is $27.28. Titan Machinery Inc. has a 52 week low of $21.44 and a 52 week high of $47.87. The company has a market capitalization of $602.30 million, a price-to-earnings ratio of 5.62 and a beta of 1.43. The company has a quick ratio of 0.24, a current ratio of 1.45 and a debt-to-equity ratio of 0.14.

Titan Machinery (NASDAQ:TITNGet Free Report) last announced its quarterly earnings data on Thursday, November 30th. The company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.51 by ($0.19). Titan Machinery had a net margin of 4.28% and a return on equity of 18.39%. The business had revenue of $694.10 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the previous year, the firm earned $1.83 earnings per share. Titan Machinery’s revenue was up 3.8% on a year-over-year basis. As a group, analysts expect that Titan Machinery Inc. will post 4.86 earnings per share for the current fiscal year.

Titan Machinery Profile

(Free Report)

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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Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

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