First Eagle Investment Management LLC Has $5.32 Million Holdings in Titan Machinery Inc. (NASDAQ:TITN)

First Eagle Investment Management LLC lifted its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 39.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 334,511 shares of the company’s stock after purchasing an additional 94,250 shares during the period. First Eagle Investment Management LLC owned approximately 1.47% of Titan Machinery worth $5,319,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TITN. Innealta Capital LLC acquired a new position in Titan Machinery during the 2nd quarter worth $36,000. nVerses Capital LLC lifted its stake in shares of 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 acquiring an additional 1,300 shares during the period. Quest Partners LLC bought a new position in Titan Machinery in the fourth quarter valued at about $165,000. Waterfront Wealth Inc. bought a new position in Titan Machinery in the second quarter valued at about $177,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Titan Machinery in the second quarter worth about $218,000. 78.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TITN. StockNews.com cut shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. B. Riley dropped their target price 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. Craig Hallum cut their price target on Titan Machinery from $25.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Northland Securities reaffirmed a “market perform” rating and set a $25.00 price objective on shares of Titan Machinery in a research note on Friday, September 13th. Finally, Lake Street Capital lowered Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given 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 Stock Performance

Shares of Titan Machinery stock opened at $14.11 on Friday. Titan Machinery Inc. has a 12 month low of $12.30 and a 12 month high of $29.30. The stock’s fifty day simple moving average is $15.11 and its 200 day simple moving average is $19.06. The company has a market capitalization of $326.36 million, a PE ratio of 3.39 and a beta of 1.26. The company has a current ratio of 1.27, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18.

Titan Machinery (NASDAQ:TITN) last announced its earnings results on Thursday, August 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.09). The company had revenue of $633.70 million for the quarter, compared to analyst estimates of $645.28 million. Titan Machinery had a return on equity of 10.38% and a net margin of 2.11%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $1.38 earnings per share. On average, research analysts predict that Titan Machinery Inc. will post 0.21 EPS for the current 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.