Titan Machinery (NASDAQ:TITN) Rating Lowered to Hold at Lake Street Capital

Lake Street Capital cut shares of Titan Machinery (NASDAQ:TITN) from a buy rating to a hold rating in a research note published on Thursday, Marketbeat Ratings reports. Lake Street Capital currently has $15.00 price objective on the stock.

A number of other research analysts also recently weighed in on the stock. Craig Hallum cut their price target on shares of Titan Machinery from $25.00 to $16.00 and set a buy rating on the stock in a report on Thursday. B. Riley lowered Titan Machinery from a buy rating to a neutral rating and cut their target price for the company from $32.00 to $20.00 in a report on Wednesday, June 5th. StockNews.com downgraded Titan Machinery from a hold rating to a sell rating in a research note on Friday, May 24th. Finally, Robert W. Baird cut their price objective on Titan Machinery from $18.00 to $13.00 and set a neutral rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $21.20.

Titan Machinery Stock Performance

Shares of NASDAQ TITN opened at $14.23 on Thursday. Titan Machinery has a one year low of $12.30 and a one year high of $34.99. The business’s 50-day moving average price is $16.17 and its two-hundred day moving average price is $21.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.29 and a quick ratio of 0.15. The company has a market capitalization of $324.73 million, a P/E ratio of 3.42 and a beta of 1.31.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Thursday, May 23rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.26). Titan Machinery had a net margin of 3.37% and a return on equity of 14.93%. The firm had revenue of $628.70 million during the quarter, compared to the consensus estimate of $664.18 million. Analysts anticipate that Titan Machinery will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Titan Machinery

In other Titan Machinery news, Director David Joseph Meyer acquired 55,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average cost of $18.12 per share, for a total transaction of $996,600.00. Following the completion of the purchase, the director now owns 1,805,000 shares of the company’s stock, valued at approximately $32,706,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.28% of the company’s stock.

Hedge Funds Weigh In On Titan Machinery

A number of institutional investors and hedge funds have recently bought and sold shares of TITN. Innealta Capital LLC bought a new stake in Titan Machinery in the 2nd quarter valued at $36,000. Canada Pension Plan Investment Board acquired a new position in shares of Titan Machinery during the second quarter valued at about $37,000. nVerses Capital LLC lifted its stake in shares of Titan Machinery by 118.2% in the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $38,000 after buying an additional 1,300 shares during the period. Quest Partners LLC bought a new position in Titan Machinery during the fourth quarter valued at about $165,000. Finally, Los Angeles Capital Management LLC acquired a new position in Titan Machinery in the 4th quarter valued at approximately $301,000. Institutional investors own 78.38% 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, 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.