American Century Companies Inc. Has $18.37 Million Stake in Titan Machinery Inc. (NASDAQ:TITN)

American Century Companies Inc. raised its position in Titan Machinery Inc. (NASDAQ:TITN) by 11.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,155,535 shares of the company’s stock after purchasing an additional 117,577 shares during the quarter. American Century Companies Inc. owned 5.06% of Titan Machinery worth $18,373,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake 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 purchasing an additional 802 shares during the period. SummerHaven Investment Management LLC increased its position in shares of Titan Machinery by 3.5% in the second 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 last quarter. Rhumbline Advisers increased its position in shares of Titan Machinery by 2.9% in the second 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 last quarter. nVerses Capital LLC increased its position 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 acquiring an additional 1,300 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Titan Machinery by 18.4% in the first 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 last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TITN. Lake Street Capital downgraded Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Thursday, August 15th. StockNews.com downgraded Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Northland Capmk downgraded Titan Machinery from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Robert W. Baird lowered their price target on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Finally, Craig Hallum lowered their price target on Titan Machinery from $25.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Titan Machinery currently has a consensus rating of “Hold” and a consensus price target of $21.00.

Titan Machinery Trading Down 1.9 %

Shares of NASDAQ:TITN opened at $14.11 on Friday. Titan Machinery Inc. has a 12-month low of $12.30 and a 12-month high of $29.30. The stock has a market cap of $326.36 million, a PE ratio of 3.39 and a beta of 1.26. The business has a 50 day moving average of $15.11 and a 200-day moving average of $19.06. 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 data on Thursday, August 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.09). Titan Machinery had a return on equity of 10.38% and a net margin of 2.11%. The firm had revenue of $633.70 million for the quarter, compared to the consensus estimate of $645.28 million. During the same quarter in the prior year, the firm earned $1.38 EPS. The company’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Titan Machinery Inc. will post 0.21 earnings per share for the current year.

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.