Titan Machinery (NASDAQ:TITN) Upgraded by Robert W. Baird to Outperform Rating

Robert W. Baird upgraded shares of Titan Machinery (NASDAQ:TITN) from a neutral rating to an outperform rating in a research note released on Monday morning, MarketBeat Ratings reports. They currently have $25.00 target price on the stock, up from their prior target price of $14.00.

Titan Machinery Trading Up 10.4 %

Shares of TITN opened at $17.39 on Monday. Titan Machinery has a 12-month low of $12.30 and a 12-month high of $28.29. 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 firm has a market capitalization of $402.23 million, a price-to-earnings ratio of 12.98 and a beta of 1.30. The stock’s 50-day moving average price is $14.73 and its 200 day moving average price is $14.72.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The company had revenue of $679.80 million for the quarter, compared to analyst estimates of $675.30 million. During the same period in the prior year, the company posted $1.32 EPS. The company’s revenue was down 2.1% compared to the same quarter last year. As a group, research analysts predict that Titan Machinery will post 0.05 earnings per share for the current year.

Institutional Investors Weigh In On Titan Machinery

Several large investors have recently modified their holdings of the stock. 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. R Squared Ltd bought a new stake in Titan Machinery during the 4th quarter worth approximately $26,000. Canada Pension Plan Investment Board bought a new stake in Titan Machinery during the 2nd quarter worth approximately $37,000. Janus Henderson Group PLC grew its position in Titan Machinery by 6.8% during the 3rd quarter. Janus Henderson Group PLC now owns 39,262 shares of the company’s stock worth $547,000 after acquiring an additional 2,496 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in Titan Machinery during the 3rd quarter worth approximately $41,000. 78.38% of the stock is currently owned by institutional investors.

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.