Titan Machinery Inc. (NASDAQ:TITN) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lessened its stake in Titan Machinery Inc. (NASDAQ:TITN) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 930,001 shares of the company’s stock after selling 1,442 shares during the quarter. William Blair Investment Management LLC owned about 4.08% of Titan Machinery worth $14,787,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in TITN. Price T Rowe Associates Inc. MD increased its position in Titan Machinery by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,789 shares of the company’s stock worth $318,000 after purchasing an additional 802 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Titan Machinery by 3.5% in the second quarter. SummerHaven Investment Management LLC now owns 24,475 shares of the company’s stock worth $389,000 after acquiring an additional 818 shares in the last quarter. Rhumbline Advisers increased its position in shares of Titan Machinery by 2.9% in the second quarter. Rhumbline Advisers now owns 34,726 shares of the company’s stock worth $552,000 after acquiring an additional 987 shares in the last quarter. nVerses Capital LLC raised its stake in shares of Titan Machinery by 118.2% in 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 period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Titan Machinery by 18.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 12,347 shares of the company’s stock valued at $306,000 after acquiring an additional 1,920 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TITN has been the subject of several recent research reports. B. Riley lowered their price target on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Northland Capmk downgraded Titan Machinery from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 20th. Northland Securities reissued a “market perform” rating and set a $25.00 price target on shares of Titan Machinery in a research report on Friday. StockNews.com downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Finally, Robert W. Baird reduced their target price on shares of Titan Machinery from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.00.

Titan Machinery Price Performance

TITN stock opened at $13.39 on Tuesday. The stock’s 50 day moving average is $15.21 and its two-hundred day moving average is $19.22. Titan Machinery Inc. has a 52-week low of $12.30 and a 52-week high of $29.30. The company has a market capitalization of $305.53 million, a PE ratio of 3.22 and a beta of 1.26. The company has a quick ratio of 0.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.18.

Titan Machinery (NASDAQ:TITN) last issued its quarterly 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 return on equity of 10.38% and a net margin of 2.11%. The company had revenue of $633.70 million during the quarter, compared to the consensus estimate of $645.28 million. During the same quarter last year, the firm posted $1.38 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts predict that Titan Machinery Inc. will post 0.21 earnings per share for the current fiscal 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.