Titan Machinery (NASDAQ:TITN) Coverage Initiated by Analysts at B. Riley

B. Riley assumed coverage on shares of Titan Machinery (NASDAQ:TITN) in a research report sent to investors on Thursday morning. The brokerage issued a neutral rating and a $19.00 price objective on the stock.

Several other analysts also recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Baird R W raised Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.80.

Titan Machinery Price Performance

NASDAQ:TITN opened at $18.07 on Thursday. The company has a market capitalization of $417.89 million, a P/E ratio of 13.49 and a beta of 1.28. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. Titan Machinery has a 52 week low of $12.30 and a 52 week high of $24.89. The stock’s fifty day moving average is $16.95 and its two-hundred day moving average is $15.22.

Insider Activity

In other news, Chairman David Joseph Meyer bought 22,524 shares of Titan Machinery stock in a transaction dated Friday, March 21st. The stock was bought at an average price of $16.83 per share, for a total transaction of $379,078.92. Following the purchase, the chairman now owns 135,388 shares of the company’s stock, valued at approximately $2,278,580.04. The trade was a 19.96 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 10.28% of the company’s stock.

Institutional Investors Weigh In On Titan Machinery

Hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in Titan Machinery by 0.5% during the fourth quarter. American Century Companies Inc. now owns 1,229,637 shares of the company’s stock worth $17,375,000 after buying an additional 5,938 shares during the period. Vanguard Group Inc. lifted its stake in shares of Titan Machinery by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company’s stock valued at $16,860,000 after buying an additional 4,955 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Titan Machinery by 2.0% during the fourth quarter. William Blair Investment Management LLC now owns 920,090 shares of the company’s stock worth $13,001,000 after purchasing an additional 17,689 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Titan Machinery by 5.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 868,401 shares of the company’s stock worth $12,270,000 after acquiring an additional 48,445 shares during the period. Finally, Voss Capital LP raised its stake in Titan Machinery by 141.7% during the fourth quarter. Voss Capital LP now owns 684,459 shares of the company’s stock worth $9,671,000 after purchasing an additional 401,302 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.