Titan Machinery Inc. (TITN) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Titan Machinery Inc. (NASDAQ:TITN) from a hold rating to a sell rating in a research note published on Wednesday.

According to Zacks, “Titan Machinery represents a diversified mix of agricultural, construction, and consumer products dealerships located in the upper Midwest. Their Shared Resource Headquarters is located in the heart of the Red River Valley in Fargo, ND. Titan Machinery is a dealer for Case IH, Case Construction, New Holland, and New Holland Construction. Titan Machinery also represents shortline equipment to meet specialized customer demand and niche product needs. “

Separately, Aegis began coverage on shares of Titan Machinery in a report on Tuesday, January 10th. They issued a buy rating and a $18.00 target price for the company.

Titan Machinery (NASDAQ:TITN) traded down 1.53% during midday trading on Wednesday, reaching $14.76. 33,922 shares of the company’s stock traded hands. The stock’s market capitalization is $314.77 million. The company’s 50-day moving average price is $14.27 and its 200 day moving average price is $12.98. Titan Machinery has a 52 week low of $8.68 and a 52 week high of $15.95.

Titan Machinery (NASDAQ:TITN) last announced its earnings results on Thursday, March 30th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.21) by $0.10. Titan Machinery had a negative return on equity of 10.64% and a negative net margin of 3.33%. The firm earned $317.60 million during the quarter, compared to analyst estimates of $311.80 million. During the same quarter in the previous year, the business earned ($1.31) earnings per share. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts expect that Titan Machinery will post $0.02 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC boosted its position in shares of Titan Machinery by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 31,879 shares of the company’s stock valued at $464,000 after buying an additional 2,050 shares during the last quarter. Alambic Investment Management L.P. boosted its position in shares of Titan Machinery by 20.9% in the third quarter. Alambic Investment Management L.P. now owns 20,235 shares of the company’s stock valued at $210,000 after buying an additional 3,500 shares during the last quarter. US Bancorp DE boosted its position in shares of Titan Machinery by 142.0% in the third quarter. US Bancorp DE now owns 11,236 shares of the company’s stock valued at $117,000 after buying an additional 6,593 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Titan Machinery by 14.9% in the third quarter. California Public Employees Retirement System now owns 79,600 shares of the company’s stock valued at $828,000 after buying an additional 10,300 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Titan Machinery by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 871,875 shares of the company’s stock valued at $9,067,000 after buying an additional 11,419 shares during the last quarter. Institutional investors own 85.40% of the company’s stock.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.

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