Robert W. Baird Has Lowered Expectations for Titan Machinery (NASDAQ:TITN) Stock Price

Titan Machinery (NASDAQ:TITN - Get Free Report) had its price objective cut by equities research analysts at Robert W. Baird from $25.00 to $24.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's target price would indicate a potential upside of 33.48% from the company's previous close.

Separately, Baird R W upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $19.00.

Titan Machinery Stock Up 1.2 %

NASDAQ:TITN traded up $0.21 during trading hours on Friday, hitting $17.98. The stock had a trading volume of 556,195 shares, compared to its average volume of 253,550. The company has a market cap of $415.81 million, a PE ratio of 13.42 and a beta of 1.28. The business has a 50 day simple moving average of $16.84 and a two-hundred day simple moving average of $15.18. Titan Machinery has a 1-year low of $12.30 and a 1-year high of $24.89. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20.

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Insiders Place Their Bets

In other news, Chairman David Joseph Meyer purchased 3,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $16.86 per share, with a total value of $50,580.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Titan Machinery

A number of hedge funds have recently added to or reduced their stakes in TITN. R Squared Ltd bought a new position in shares of Titan Machinery in the 4th quarter worth about $26,000. Russell Investments Group Ltd. grew its position in shares of Titan Machinery by 51.2% during the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company's stock valued at $37,000 after buying an additional 882 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Titan Machinery during the third quarter worth about $41,000. US Bancorp DE lifted its holdings in Titan Machinery by 23.8% in the fourth quarter. US Bancorp DE now owns 3,861 shares of the company's stock worth $55,000 after acquiring an additional 741 shares during the last quarter. Finally, FMR LLC boosted its stake in Titan Machinery by 142.5% in the third quarter. FMR LLC now owns 5,262 shares of the company's stock valued at $73,000 after acquiring an additional 3,092 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.

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.