State Street Corp Decreases Stock Position in Titan Machinery Inc. (NASDAQ:TITN)

State Street Corp decreased its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 519,305 shares of the company’s stock after selling 17,287 shares during the period. State Street Corp owned approximately 2.25% of Titan Machinery worth $7,234,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Titan Machinery during the second quarter valued at approximately $36,000. Canada Pension Plan Investment Board purchased a new stake in shares of Titan Machinery during the 2nd quarter worth approximately $37,000. nVerses Capital LLC boosted its position in shares of Titan Machinery by 118.2% during 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 last quarter. Truvestments Capital LLC purchased a new position in shares of Titan Machinery in the third quarter valued at $41,000. Finally, US Bancorp DE grew its holdings in shares of Titan Machinery by 116.2% in the third quarter. US Bancorp DE now owns 3,120 shares of the company’s stock valued at $43,000 after purchasing an additional 1,677 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

TITN has been the subject of several research reports. B. Riley lowered their price objective on shares of Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. Northland Securities reaffirmed a “market perform” rating and issued a $25.00 price target on shares of Titan Machinery in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Titan Machinery currently has a consensus rating of “Hold” and an average target price of $21.00.

Titan Machinery Price Performance

Titan Machinery stock opened at $13.87 on Friday. Titan Machinery Inc. has a 12-month low of $12.30 and a 12-month high of $29.30. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $14.61 and a 200-day moving average price of $14.92. The firm has a market capitalization of $320.76 million, a PE ratio of 10.35 and a beta of 1.30.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Tuesday, November 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.04. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The business had revenue of $679.80 million during the quarter, compared to the consensus estimate of $675.30 million. During the same quarter last year, the firm earned $1.32 earnings per share. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Titan Machinery Inc. will post 0.05 EPS for the current year.

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.