Quest Partners LLC Buys Shares of 17,646 Titan Machinery Inc. (NASDAQ:TITN)

Quest Partners LLC purchased a new stake in Titan Machinery Inc. (NASDAQ:TITN) during the second quarter, according to its most recent filing with the SEC. The firm purchased 17,646 shares of the company’s stock, valued at approximately $281,000. Quest Partners LLC owned 0.08% of Titan Machinery at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Titan Machinery by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,789 shares of the company’s stock valued at $318,000 after acquiring an additional 802 shares during the period. SummerHaven Investment Management LLC raised its position in shares of Titan Machinery by 3.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 24,475 shares of the company’s stock valued at $389,000 after acquiring an additional 818 shares during the period. Rhumbline Advisers raised its position in shares of Titan Machinery by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 34,726 shares of the company’s stock valued at $552,000 after acquiring an additional 987 shares during the period. nVerses Capital LLC raised its position in shares of Titan Machinery by 118.2% in the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $38,000 after acquiring an additional 1,300 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of Titan Machinery by 18.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 12,347 shares of the company’s stock valued at $306,000 after acquiring an additional 1,920 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery Price Performance

Shares of TITN opened at $13.31 on Friday. The stock has a market capitalization of $307.86 million, a P/E ratio of 3.20 and a beta of 1.26. Titan Machinery Inc. has a twelve month low of $12.30 and a twelve month high of $29.30. The company has a 50 day moving average of $15.25 and a 200-day moving average of $19.34. The company has a quick ratio of 0.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.18.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.09). The business had revenue of $633.70 million for the quarter, compared to the consensus estimate of $645.28 million. Titan Machinery had a return on equity of 10.38% and a net margin of 2.11%. Titan Machinery’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 earnings per share. As a group, equities research analysts forecast that Titan Machinery Inc. will post 0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TITN has been the topic of a number of analyst reports. Northland Securities reiterated a “market perform” rating and issued a $25.00 price target on shares of Titan Machinery in a research report on Friday. StockNews.com cut Titan Machinery from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Lake Street Capital cut Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research note on Thursday, August 15th. Craig Hallum lowered their target price on Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Northland Capmk cut Titan Machinery from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.00.

Titan Machinery 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.