Titan Machinery Inc. (NASDAQ:TITN) CFO Robert Larsen Acquires 658 Shares

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) CFO Robert Larsen bought 658 shares of Titan Machinery stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price of $15.20 per share, with a total value of $10,001.60. Following the purchase, the chief financial officer now owns 37,330 shares in the company, valued at approximately $567,416. This represents a 1.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Titan Machinery Stock Performance

Shares of TITN traded up $0.74 during trading hours on Friday, hitting $16.34. The company's stock had a trading volume of 283,524 shares, compared to its average volume of 266,929. The company has a market cap of $377.85 million, a price-to-earnings ratio of 12.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The business has a 50 day simple moving average of $16.62 and a two-hundred day simple moving average of $15.42. Titan Machinery Inc. has a 52-week low of $12.30 and a 52-week high of $24.28.

Institutional Investors Weigh In On Titan Machinery

Hedge funds and other institutional investors have recently bought and sold shares of the business. Voss Capital LP boosted its holdings in shares of Titan Machinery by 141.7% in the fourth quarter. Voss Capital LP now owns 684,459 shares of the company's stock worth $9,671,000 after acquiring an additional 401,302 shares during the period. First Eagle Investment Management LLC boosted its stake in Titan Machinery by 42.4% in the 4th quarter. First Eagle Investment Management LLC now owns 634,509 shares of the company's stock worth $8,966,000 after purchasing an additional 188,998 shares during the period. CenterBook Partners LP purchased a new position in Titan Machinery during the 4th quarter valued at about $1,438,000. Royce & Associates LP purchased a new position in Titan Machinery during the 4th quarter valued at about $1,065,000. Finally, Bank of America Corp DE increased its position in shares of Titan Machinery by 76.9% during the fourth quarter. Bank of America Corp DE now owns 153,787 shares of the company's stock valued at $2,173,000 after buying an additional 66,853 shares during the period. Institutional investors own 78.38% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TITN shares. Baird R W upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. Northland Securities upgraded shares of Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a research note on Friday. B. Riley started coverage on shares of Titan Machinery in a research report on Thursday, March 27th. They set a "neutral" rating and a $19.00 target price for the company. Finally, Robert W. Baird lowered their price target on shares of Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Titan Machinery presently has an average rating of "Moderate Buy" and a consensus target price of $19.80.

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.