Cornerstone Investment Partners LLC acquired a new stake in Titan Machinery Inc (NASDAQ:TITN – Get Rating ) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,150 shares of the company’s stock, valued at approximately $244,000.
Several other large investors have also recently modified their holdings of TITN. Assetmark Inc. grew its stake in Titan Machinery by 29.0% in the third quarter. Assetmark Inc. now owns 1,290 shares of the company’s stock valued at $36,000 after purchasing an additional 290 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Titan Machinery by 3.1% during the third quarter. MetLife Investment Management LLC now owns 9,838 shares of the company’s stock valued at $278,000 after buying an additional 299 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Titan Machinery by 3.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,200 shares of the company’s stock worth $485,000 after buying an additional 408 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Titan Machinery by 1.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 26,681 shares of the company’s stock valued at $754,000 after buying an additional 478 shares in the last quarter. Finally, Credit Suisse AG boosted its stake in Titan Machinery by 4.3% in the third quarter. Credit Suisse AG now owns 13,804 shares of the company’s stock valued at $389,000 after purchasing an additional 569 shares during the period. 81.30 percent shares belong to institutional investors.
Wall Street analysts forecast growth
TITN has been the subject of several research reports. StockNews.com downgraded Titan Machinery from a “buy” rating to a “hold” rating in a report on Friday, March 24th. Robert W. Baird lowered their price objective on shares of Titan Machinery from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, March 16th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Moderate Buy” and a consensus target price of $43.67, according to MarketBeat data.
Activity within Titan Machinery
In other Titan Machinery news, director Stan K. Erickson purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The shares were purchased at an average price of $29.67 per share, for a total transaction of $89,010.00. Following the purchase, the director now owns 39,031 shares in the company, valued at approximately $1,158,049.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.04% of the stock is currently owned by insiders.
Titan Machinery Value Display
Shares of TITN traded up $0.55 during trading hours on Friday, hitting $29.83. 115,088 shares of the company were exchanged, compared to its average volume of 320,483. The company has a market cap of $677.05 million, a price-to-earnings ratio of 6.57 and a beta of 1.64. The firm’s fifty day moving average is $38.10 and its 200 day moving average is $37.21. Titan Machinery Inc. has a fifty-two week low of $21.50 and a fifty-two week high of $47.87. The company has a quick ratio of 0.33, a current ratio of 1.75 and a debt-to-equity ratio of 0.17.
Titan Machinery (NASDAQ:TITN – Get Rating ) last announced its quarterly earnings data on Thursday, March 16th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.26). The firm had revenue of $583.00 million for the quarter, compared to analyst estimates of $692.90 million. Titan Machinery had a return on equity of 20.81% and a net margin of 4.61%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. The company earned $0.99 per share in the same quarter last year. On average, equities analysts predict that Titan Machinery Inc will post 4.89 earnings per share for the current fiscal year.
Titan Machinery Company Profile
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Titan Machinery, Inc. is engaged in the management of agricultural and construction equipment stores. It operates through the following segments: Agriculture, Manufacturing and International. The Agriculture segment rents and sells services for machinery and related parts and attachments for large-scale farm to home and garden use in North America.
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