American Century Companies Inc. Increases Stock Position in Titan Machinery Inc. (NASDAQ:TITN)

American Century Companies Inc. raised its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 93.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,346 shares of the company’s stock after acquiring an additional 8,362 shares during the period. American Century Companies Inc.’s holdings in Titan Machinery were worth $537,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new stake in shares of Titan Machinery during the 1st quarter worth approximately $15,458,000. Bank of New York Mellon Corp raised its stake in shares of Titan Machinery by 606.8% in the first quarter. Bank of New York Mellon Corp now owns 598,766 shares of the company’s stock worth $15,268,000 after purchasing an additional 514,051 shares during the last quarter. Monarch Partners Asset Management LLC raised its stake in shares of Titan Machinery by 453.3% in the first quarter. Monarch Partners Asset Management LLC now owns 254,055 shares of the company’s stock worth $6,478,000 after purchasing an additional 208,140 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in Titan Machinery in the first quarter valued at approximately $4,325,000. Finally, Kennedy Capital Management Inc. increased its position in shares of Titan Machinery by 35.3% in the first quarter. Kennedy Capital Management Inc. now owns 551,794 shares of the company’s stock valued at $14,071,000 after buying an additional 143,926 shares in the last quarter. Institutional investors own 78.89% of the company’s stock.

TITN has been the subject of several analyst reports. Zacks Investment Research upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a report on Wednesday, September 1st. Stephens upgraded Titan Machinery from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $26.00 to $40.00 in a report on Friday, May 28th. Finally, Robert W. Baird increased their price objective on Titan Machinery from $31.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, May 27th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $33.25.

Shares of TITN opened at $25.52 on Tuesday. The stock’s 50-day moving average is $28.17 and its two-hundred day moving average is $27.91. The stock has a market cap of $576.65 million, a PE ratio of 17.72 and a beta of 1.77. Titan Machinery Inc. has a 12 month low of $12.50 and a 12 month high of $35.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 0.56.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings data on Wednesday, August 25th. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.13. Titan Machinery had a return on equity of 11.04% and a net margin of 2.10%. The company had revenue of $377.60 million for the quarter, compared to analysts’ expectations of $372.73 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. On average, research analysts anticipate that Titan Machinery Inc. will post 2.1 earnings per share for the current year.

About Titan Machinery

Titan Machinery, Inc engages in the management of agricultural and construction equipment stores. It operates through the following segments: Agriculture, Construction and International. The Agriculture segment sells services and rents machinery and related parts and attachments, for uses from large-scale farming to home and garden use in North America.

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Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

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