Titan Machinery (NASDAQ:TITN) Upgraded at Northland Securities

Northland Securities upgraded shares of Titan Machinery (NASDAQ:TITN) from a market perform rating to an outperform rating in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has $25.00 price target on the stock.

TITN has been the topic of a number of other research reports. Baird R W raised Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. B. Riley began coverage on shares of Titan Machinery in a report on Thursday, March 27th. They issued a “neutral” rating and a $19.00 target price for the company. Finally, Robert W. Baird lowered their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.80.

Titan Machinery Price Performance

Shares of NASDAQ:TITN opened at $16.34 on Friday. The firm has a 50 day moving average of $16.62 and a 200-day moving average of $15.43. Titan Machinery has a 12 month low of $12.30 and a 12 month high of $24.28. 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 stock has a market capitalization of $377.85 million, a PE ratio of 12.19 and a beta of 1.27.

Insider Buying and Selling

In related news, Chairman David Joseph Meyer purchased 22,524 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was bought at an average price of $16.83 per share, with a total value of $379,078.92. Following the completion of the purchase, the chairman now owns 135,388 shares in the company, valued at approximately $2,278,580.04. This represents a 19.96 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders purchased a total of 26,182 shares of company stock valued at $439,661 in the last three months. Insiders own 10.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Titan Machinery in the fourth quarter valued at $26,000. Russell Investments Group Ltd. lifted its stake in shares of Titan Machinery by 51.2% in the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock valued at $37,000 after purchasing an additional 882 shares during the period. US Bancorp DE boosted its position in shares of Titan Machinery by 23.8% during the 4th quarter. US Bancorp DE now owns 3,861 shares of the company’s stock valued at $55,000 after purchasing an additional 741 shares in the last quarter. FMR LLC increased its holdings in Titan Machinery by 142.5% in the third quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after purchasing an additional 3,092 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Titan Machinery by 91.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock valued at $122,000 after buying an additional 4,103 shares during the period. Institutional investors own 78.38% of the company’s stock.

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.