Titan Machinery (NASDAQ:TITN) Upgraded by Robert W. Baird to Outperform Rating

Robert W. Baird upgraded shares of Titan Machinery (NASDAQ:TITN) from a neutral rating to an outperform rating in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has $25.00 price target on the stock, up from their prior price target of $14.00.

Titan Machinery Price Performance

Shares of TITN stock opened at $18.12 on Monday. The stock has a 50 day moving average price of $14.89 and a 200 day moving average price of $14.75. The firm has a market capitalization of $419.04 million, a P/E ratio of 13.52 and a beta of 1.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. Titan Machinery has a 52-week low of $12.30 and a 52-week high of $28.29.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Tuesday, November 26th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $679.80 million during the quarter, compared to analysts’ expectations of $675.30 million. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.32 EPS. As a group, sell-side analysts predict that Titan Machinery will post 0.05 earnings per share for the current year.

Institutional Investors Weigh In On Titan Machinery

Several large investors have recently modified their holdings of TITN. Empowered Funds LLC increased its holdings in shares of Titan Machinery by 5.1% in the 4th quarter. Empowered Funds LLC now owns 20,000 shares of the company’s stock valued at $283,000 after acquiring an additional 962 shares during the period. US Bancorp DE lifted its position in Titan Machinery by 116.2% during the third quarter. US Bancorp DE now owns 3,120 shares of the company’s stock valued at $43,000 after acquiring an additional 1,677 shares during the last quarter. R Squared Ltd purchased a new position in Titan Machinery in the fourth quarter worth $26,000. Canada Pension Plan Investment Board acquired a new position in shares of Titan Machinery during the second quarter worth $37,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Titan Machinery by 6.8% during the 3rd quarter. Janus Henderson Group PLC now owns 39,262 shares of the company’s stock valued at $547,000 after purchasing an additional 2,496 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

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.