BNP Paribas Financial Markets Grows Position in Titan Machinery Inc. (NASDAQ:TITN)

BNP Paribas Financial Markets boosted its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 21.2% in the third quarter, Holdings Channel reports. The fund owned 78,510 shares of the company’s stock after purchasing an additional 13,757 shares during the period. BNP Paribas Financial Markets’ holdings in Titan Machinery were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in Titan Machinery by 142.5% during the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after acquiring an additional 3,092 shares during the period. Truvestments Capital LLC acquired a new stake in Titan Machinery during the 3rd quarter worth approximately $41,000. English Capital Management LLC lifted its position in Titan Machinery by 84.9% during the 3rd quarter. English Capital Management LLC now owns 278,853 shares of the company’s stock worth $3,884,000 after acquiring an additional 128,073 shares during the period. US Bancorp DE lifted its position in Titan Machinery by 116.2% during the 3rd quarter. US Bancorp DE now owns 3,120 shares of the company’s stock worth $43,000 after acquiring an additional 1,677 shares during the period. Finally, Ballentine Partners LLC acquired a new stake in Titan Machinery during the 3rd quarter worth approximately $243,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on TITN. Northland Securities reaffirmed a “market perform” rating and set a $25.00 price objective on shares of Titan Machinery in a research report on Friday, September 13th. Robert W. Baird decreased their price objective on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. B. Riley reduced their price target on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Lake Street Capital cut Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a report on Thursday, August 15th. Finally, Craig Hallum reduced their price target on Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.00.

Titan Machinery Stock Down 1.1 %

TITN opened at $15.25 on Wednesday. Titan Machinery Inc. has a 12 month low of $12.30 and a 12 month high of $29.30. The stock has a market capitalization of $352.73 million, a P/E ratio of 11.38 and a beta of 1.30. The business has a 50 day simple moving average of $14.59 and a 200-day simple moving average of $15.22. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The firm had revenue of $679.80 million during the quarter, compared to the consensus estimate of $675.30 million. During the same period last year, the business posted $1.32 EPS. Titan Machinery’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities analysts anticipate that Titan Machinery Inc. will post 0.05 earnings per share for the current fiscal 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.