Charles Schwab Investment Management Inc. Trims Stock Holdings in Titan Machinery Inc. (NASDAQ:TITN)

Charles Schwab Investment Management Inc. lessened its position in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 16.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 267,044 shares of the company's stock after selling 51,460 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.15% of Titan Machinery worth $3,720,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC purchased a new stake in Titan Machinery in the second quarter worth about $36,000. Canada Pension Plan Investment Board purchased a new stake in shares of Titan Machinery during the second quarter worth about $37,000. nVerses Capital LLC grew its position 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 worth $38,000 after purchasing an additional 1,300 shares in the last quarter. US Bancorp DE grew its position in shares of Titan Machinery by 116.2% during the third quarter. US Bancorp DE now owns 3,120 shares of the company's stock worth $43,000 after purchasing an additional 1,677 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Titan Machinery during the third quarter worth about $105,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TITN shares. Northland Securities reiterated a "market perform" rating and set a $25.00 target price on shares of Titan Machinery in a research report on Friday, September 13th. Northland Capmk cut Titan Machinery from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 20th. Finally, B. Riley cut their target price on Titan Machinery from $20.00 to $15.00 and set a "neutral" rating for the company in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.00.

Titan Machinery Price Performance

Titan Machinery stock traded down $0.29 during midday trading on Friday, reaching $14.78. 175,168 shares of the stock traded hands, compared to its average volume of 218,630. The stock's fifty day moving average is $14.66 and its 200-day moving average is $15.16. Titan Machinery Inc. has a 12 month low of $12.30 and a 12 month high of $29.30. The stock has a market cap of $341.75 million, a P/E ratio of 11.03 and a beta of 1.30. 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 (NASDAQ:TITN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The business had revenue of $679.80 million during the quarter, compared to analyst estimates of $675.30 million. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The company's revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the company earned $1.32 EPS. As a group, equities research analysts anticipate that Titan Machinery Inc. will post 0.05 EPS for the current year.

Titan Machinery 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.