Dana Investment Advisors Inc. Acquires 95,221 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Dana Investment Advisors Inc. raised its stake in Titan Machinery Inc. (NASDAQ:TITN) by 32.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 384,548 shares of the company’s stock after purchasing an additional 95,221 shares during the period. Dana Investment Advisors Inc.’s holdings in Titan Machinery were worth $6,114,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in Titan Machinery in the 2nd quarter valued at $36,000. Canada Pension Plan Investment Board acquired a new stake in Titan Machinery in the 2nd quarter worth about $37,000. nVerses Capital LLC raised its stake in Titan Machinery by 118.2% in the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $38,000 after purchasing an additional 1,300 shares in the last quarter. Waterfront Wealth Inc. bought a new stake in Titan Machinery in the 2nd quarter valued at about $177,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Titan Machinery during the 2nd quarter worth approximately $218,000. 78.38% of the stock is owned by institutional investors.

Titan Machinery Price Performance

Titan Machinery stock opened at $14.04 on Wednesday. The stock has a fifty day moving average of $14.63 and a 200-day moving average of $18.32. The stock has a market capitalization of $324.75 million, a P/E ratio of 3.38 and a beta of 1.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.13 and a current ratio of 1.27. Titan Machinery Inc. has a 52 week low of $12.30 and a 52 week high of $29.30.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, August 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.09). Titan Machinery had a return on equity of 10.38% and a net margin of 2.11%. The business had revenue of $633.70 million for the quarter, compared to analyst estimates of $645.28 million. During the same period in the previous year, the firm posted $1.38 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts expect that Titan Machinery Inc. will post 0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

TITN has been the subject of several recent research reports. Northland Capmk cut Titan Machinery from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 20th. Craig Hallum cut their target price on Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Lake Street Capital cut Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research report on Thursday, August 15th. Robert W. Baird cut their price objective on shares of Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Finally, B. Riley decreased their target price on shares of Titan Machinery from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.00.

Titan Machinery Company Profile

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.