Titan Machinery Inc. (NASDAQ:TITN) Given Average Rating of "Buy" by Analysts

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) has received an average recommendation of "Buy" from the seven ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $19.80.

A number of analysts have commented on TITN shares. Northland Capmk raised Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Baird R W raised shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Monday, January 27th. Robert W. Baird cut their target price on shares of Titan Machinery from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. B. Riley began coverage on Titan Machinery in a report on Thursday, March 27th. They issued a "neutral" rating and a $19.00 price objective for the company. Finally, Northland Securities raised Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a report on Friday, April 11th.

Insider Activity

In other news, Chairman David Joseph Meyer bought 3,000 shares of the firm's stock in a transaction on Monday, March 24th. The shares were bought at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the purchase, the chairman now owns 138,388 shares in the company, valued at approximately $2,333,221.68. The trade was a 2.22 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 26,182 shares of company stock valued at $439,661 in the last ninety days. Corporate insiders own 10.28% of the company's stock.

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Institutional Inflows and Outflows

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

Titan Machinery Stock Down 1.9 %

Titan Machinery stock traded down $0.30 on Friday, hitting $15.81. 64,570 shares of the stock traded hands, compared to its average volume of 266,989. Titan Machinery has a 1 year low of $12.30 and a 1 year high of $24.28. The firm has a market cap of $365.59 million, a P/E ratio of 11.80 and a beta of 1.27. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. The business's fifty day simple moving average is $16.51 and its 200 day simple moving average is $15.45.

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.