Truvestments Capital LLC Takes $41,000 Position in Titan Machinery Inc. (NASDAQ:TITN)

Truvestments Capital LLC bought a new stake in Titan Machinery Inc. (NASDAQ:TITN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,917 shares of the company’s stock, valued at approximately $41,000.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Titan Machinery by 0.8% during the first quarter. Vanguard Group Inc. now owns 1,164,276 shares of the company’s stock worth $28,886,000 after purchasing an additional 9,548 shares during the period. American Century Companies Inc. grew its stake in shares of Titan Machinery by 11.3% during the second quarter. American Century Companies Inc. now owns 1,155,535 shares of the company’s stock worth $18,373,000 after purchasing an additional 117,577 shares during the period. Dana Investment Advisors Inc. grew its stake in shares of 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 purchasing an additional 95,221 shares during the period. Victory Capital Management Inc. grew its stake in shares of Titan Machinery by 28.8% during the second quarter. Victory Capital Management Inc. now owns 363,011 shares of the company’s stock worth $5,772,000 after purchasing an additional 81,248 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in shares of Titan Machinery by 39.2% during the second quarter. First Eagle Investment Management LLC now owns 334,511 shares of the company’s stock worth $5,319,000 after purchasing an additional 94,250 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TITN has been the subject of a number of analyst reports. Northland Capmk cut Titan Machinery from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 20th. Lake Street Capital lowered Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a report on Thursday, August 15th. Craig Hallum reduced their target price on Titan Machinery from $25.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Robert W. Baird reduced their target price on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Finally, B. Riley reduced their target price on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.00.

Titan Machinery Stock Performance

Shares of Titan Machinery stock opened at $15.69 on Thursday. The firm has a market cap of $362.91 million, a price-to-earnings ratio of 6.06 and a beta of 1.25. The stock’s 50-day moving average is $14.30 and its 200-day moving average is $15.73. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $29.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.13.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, August 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.09). Titan Machinery had a return on equity of 10.38% and a net margin of 2.11%. The company had revenue of $633.70 million for the quarter, compared to the consensus estimate of $645.28 million. During the same quarter in the previous year, the company posted $1.38 EPS. The business’s revenue was down 1.4% on a year-over-year basis. Equities analysts predict that Titan Machinery Inc. will post 0.21 earnings per share for the current fiscal year.

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.