M&T Bank Corp Purchases 12,556 Shares of Titan Machinery Inc. (NASDAQ:TITN)

M&T Bank Corp boosted its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 54.8% in the 3rd quarter, Holdings Channel reports. The firm owned 35,468 shares of the company’s stock after buying an additional 12,556 shares during the period. M&T Bank Corp’s holdings in Titan Machinery were worth $495,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Dana Investment Advisors Inc. raised its holdings in shares of Titan Machinery by 32.9% during the 2nd quarter. Dana Investment Advisors Inc. now owns 384,548 shares of the company’s stock worth $6,114,000 after buying an additional 95,221 shares in the last quarter. Systematic Financial Management LP bought a new position in Titan Machinery in the third quarter valued at about $483,000. ArrowMark Colorado Holdings LLC raised its stake in Titan Machinery by 28.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 341,832 shares of the company’s stock worth $4,762,000 after acquiring an additional 75,710 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Titan Machinery by 28.8% in the second quarter. Victory Capital Management Inc. now owns 363,011 shares of the company’s stock worth $5,772,000 after acquiring an additional 81,248 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Titan Machinery by 16.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 583,830 shares of the company’s stock valued at $8,133,000 after purchasing an additional 84,330 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Price Performance

TITN stock opened at $14.74 on Wednesday. The company has a market capitalization of $340.88 million, a P/E ratio of 11.00 and a beta of 1.30. The company has a fifty day moving average price of $14.71 and a 200-day moving average price of $15.10. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. Titan Machinery Inc. has a 52-week low of $12.30 and a 52-week high of $29.30.

Titan Machinery (NASDAQ:TITN) last announced its earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.04. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The business had revenue of $679.80 million during the quarter, compared to analyst estimates of $675.30 million. During the same period last year, the company earned $1.32 EPS. Titan Machinery’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities analysts expect that Titan Machinery Inc. will post 0.05 EPS for the current year.

Analysts Set New Price Targets

TITN has been the subject of a number of research analyst reports. Northland Capmk cut shares of Titan Machinery from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Northland Securities reiterated a “market perform” rating and set a $25.00 price target on shares of Titan Machinery in a report on Friday, September 13th. Finally, B. Riley cut their price objective 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 issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.00.

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.