Geode Capital Management LLC Acquires 959 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Geode Capital Management LLC raised its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 0.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 473,786 shares of the company’s stock after purchasing an additional 959 shares during the quarter. Geode Capital Management LLC’s holdings in Titan Machinery were worth $6,601,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. American Century Companies Inc. increased its holdings in Titan Machinery by 11.3% in the second quarter. American Century Companies Inc. now owns 1,155,535 shares of the company’s stock valued at $18,373,000 after purchasing an additional 117,577 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Titan Machinery by 16.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 583,830 shares of the company’s stock worth $8,133,000 after purchasing an additional 84,330 shares during the period. Dana Investment Advisors Inc. lifted its holdings in Titan Machinery by 32.9% during the second quarter. Dana Investment Advisors Inc. now owns 384,548 shares of the company’s stock worth $6,114,000 after acquiring an additional 95,221 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Titan Machinery by 28.8% during the 2nd quarter. Victory Capital Management Inc. now owns 363,011 shares of the company’s stock valued at $5,772,000 after purchasing an additional 81,248 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its stake in Titan Machinery by 28.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 341,832 shares of the company’s stock valued at $4,762,000 after buying an additional 75,710 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Ratings Changes

Separately, Northland Securities reaffirmed a “market perform” rating and issued a $25.00 price objective on shares of Titan Machinery in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.00.

Titan Machinery Stock Up 1.1 %

NASDAQ:TITN opened at $14.00 on Friday. The firm has a market capitalization of $323.76 million, a price-to-earnings ratio of 10.45 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 Inc. has a twelve month low of $12.30 and a twelve month high of $28.29. The stock’s 50 day moving average price is $14.55 and its two-hundred day moving average price is $14.81.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Tuesday, November 26th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $679.80 million during the quarter, compared to the consensus estimate of $675.30 million. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 EPS. Equities research analysts expect 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.