Geode Capital Management LLC Purchases 959 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Geode Capital Management LLC increased its position in Titan Machinery Inc. (NASDAQ:TITN) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 473,786 shares of the company’s stock after purchasing an additional 959 shares during the quarter. Geode Capital Management LLC owned approximately 2.05% of Titan Machinery worth $6,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TITN. Rhumbline Advisers boosted its position in shares of Titan Machinery by 2.9% during 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 in the last quarter. nVerses Capital LLC boosted its holdings in Titan Machinery by 118.2% during the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $38,000 after purchasing an additional 1,300 shares in the last quarter. US Bancorp DE grew its stake in shares of Titan Machinery by 116.2% in the 3rd 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 during the period. Canada Pension Plan Investment Board acquired a new position in shares of Titan Machinery in the 2nd quarter worth approximately $37,000. Finally, Janus Henderson Group PLC boosted its stake in Titan Machinery by 6.8% in the 3rd quarter. Janus Henderson Group PLC now owns 39,262 shares of the company’s stock valued at $547,000 after buying an additional 2,496 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Northland Securities restated a “market perform” rating and issued a $25.00 target price on shares of Titan Machinery in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.00.

Titan Machinery Stock Performance

Titan Machinery stock opened at $14.00 on Friday. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $323.76 million, a price-to-earnings ratio of 10.45 and a beta of 1.30. Titan Machinery Inc. has a 12-month low of $12.30 and a 12-month high of $28.29. The stock has a 50-day simple moving average of $14.55 and a 200 day simple moving average of $14.81.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $675.30 million. During the same quarter last year, the business posted $1.32 earnings per share. Titan Machinery’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, research analysts anticipate that Titan Machinery Inc. will post 0.05 earnings per share for the current fiscal 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.