Victory Capital Management Inc. Sells 6,930 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Victory Capital Management Inc. lowered its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,081 shares of the company’s stock after selling 6,930 shares during the quarter. Victory Capital Management Inc. owned about 1.54% of Titan Machinery worth $4,960,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TITN. State Board of Administration of Florida Retirement System acquired a new position in shares of Titan Machinery during the first quarter valued at about $276,000. Vanguard Group Inc. boosted its position in Titan Machinery by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,164,276 shares of the company’s stock valued at $28,886,000 after buying an additional 9,548 shares during the last quarter. Quadrature Capital Ltd boosted its position in Titan Machinery by 40.5% in the first quarter. Quadrature Capital Ltd now owns 29,266 shares of the company’s stock valued at $726,000 after buying an additional 8,440 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Titan Machinery by 6.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,789 shares of the company’s stock valued at $318,000 after buying an additional 802 shares during the last quarter. Finally, Caxton Associates LP boosted its position in Titan Machinery by 29.6% in the first quarter. Caxton Associates LP now owns 27,067 shares of the company’s stock valued at $672,000 after buying an additional 6,182 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Trading Up 4.6 %

Shares of NASDAQ:TITN opened at $15.14 on Friday. Titan Machinery Inc. has a 1 year low of $12.30 and a 1 year high of $29.30. The firm has a market capitalization of $350.16 million, a price-to-earnings ratio of 5.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.13. The business’s 50 day moving average price is $14.20 and its 200-day moving average price is $15.96.

Titan Machinery (NASDAQ:TITN) last announced its earnings results 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 net margin of 2.11% and a return on equity of 10.38%. The business had revenue of $633.70 million for the quarter, compared to analysts’ expectations of $645.28 million. During the same quarter last year, the business earned $1.38 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that Titan Machinery Inc. will post 0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TITN has been the topic of a number of recent research reports. B. Riley dropped their target price on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Northland Capmk lowered Titan Machinery from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Northland Securities reiterated a “market perform” rating and issued a $25.00 target price on shares of Titan Machinery in a research report on Friday, September 13th. Robert W. Baird lowered their price objective 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 objective 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.00.

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.