Robert W. Baird Issues Pessimistic Forecast for Titan Machinery (NASDAQ:TITN) Stock Price

Titan Machinery (NASDAQ:TITN) had its price target reduced by Robert W. Baird from $25.00 to $24.00 in a research report sent to investors on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Separately, Baird R W upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.00.

Titan Machinery Stock Performance

NASDAQ:TITN opened at $17.05 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. Titan Machinery has a 1 year low of $12.30 and a 1 year high of $24.92. The stock’s 50 day simple moving average is $16.70 and its two-hundred day simple moving average is $15.10. The company has a market cap of $394.30 million, a price-to-earnings ratio of 12.72 and a beta of 1.28.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Thursday, March 20th. The company reported ($1.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($1.01). Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The firm had revenue of $759.90 million during the quarter, compared to the consensus estimate of $728.55 million. During the same period in the previous year, the firm earned $1.05 EPS. The business’s revenue was down 10.8% compared to the same quarter last year.

Hedge Funds Weigh In On Titan Machinery

Large investors have recently bought and sold shares of the business. R Squared Ltd purchased a new position in Titan Machinery during the 4th quarter valued at $26,000. Russell Investments Group Ltd. boosted its holdings in Titan Machinery by 51.2% during the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock valued at $37,000 after acquiring an additional 882 shares during the period. Truvestments Capital LLC purchased a new position in Titan Machinery during the 3rd quarter valued at $41,000. US Bancorp DE boosted its holdings in 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 acquiring an additional 741 shares during the period. Finally, FMR LLC boosted its holdings in Titan Machinery by 142.5% during the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $73,000 after acquiring an additional 3,092 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.