Brokerages Set Titan Machinery Inc. (NASDAQ:TITN) Target Price at $19.80

Shares of Titan Machinery Inc. (NASDAQ:TITN) have earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $19.80.

TITN has been the subject of several recent research reports. B. Riley began coverage on shares of Titan Machinery in a research report on Thursday, March 27th. They set a “neutral” rating and a $19.00 target price for the company. Robert W. Baird cut their target price on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Northland Securities raised Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Friday. Finally, Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th.

Insider Buying and Selling

In related news, Chairman David Joseph Meyer bought 3,000 shares of Titan Machinery stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $16.86 per share, with a total value of $50,580.00. Following the purchase, the chairman now owns 138,388 shares in the company, valued at approximately $2,333,221.68. This trade represents a 2.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders acquired 26,182 shares of company stock valued at $439,661. 10.28% of the stock is owned by corporate insiders.

Institutional Trading of Titan Machinery

Institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its position in Titan Machinery by 0.5% in the 4th quarter. American Century Companies Inc. now owns 1,229,637 shares of the company’s stock valued at $17,375,000 after buying an additional 5,938 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Titan Machinery by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company’s stock valued at $16,860,000 after purchasing an additional 4,955 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Titan Machinery by 2.0% in the fourth quarter. William Blair Investment Management LLC now owns 920,090 shares of the company’s stock worth $13,001,000 after purchasing an additional 17,689 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Titan Machinery by 5.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 868,401 shares of the company’s stock worth $12,270,000 after purchasing an additional 48,445 shares during the last quarter. Finally, Voss Capital LP increased its stake in Titan Machinery by 141.7% in the 4th quarter. Voss Capital LP now owns 684,459 shares of the company’s stock valued at $9,671,000 after buying an additional 401,302 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Titan Machinery Stock Up 1.0 %

Shares of NASDAQ:TITN opened at $16.51 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The stock has a market cap of $381.78 million, a price-to-earnings ratio of 12.32 and a beta of 1.27. The company has a 50 day moving average of $16.57 and a 200-day moving average of $15.45. Titan Machinery has a one year low of $12.30 and a one year high of $24.28.

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.