Royce & Associates LP Buys Shares of 75,400 Titan Machinery Inc. (NASDAQ:TITN)

Royce & Associates LP purchased a new position in shares of Titan Machinery Inc. (NASDAQ:TITN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 75,400 shares of the company’s stock, valued at approximately $1,065,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Titan Machinery during the fourth quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new position in shares of Titan Machinery during the third quarter valued at $41,000. US Bancorp DE raised its stake in shares of Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company’s stock valued at $55,000 after purchasing an additional 741 shares in the last quarter. FMR LLC lifted its holdings in Titan Machinery by 142.5% in the third quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after purchasing an additional 3,092 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Titan Machinery by 91.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock worth $122,000 after acquiring an additional 4,103 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Stock Up 2.5 %

Shares of Titan Machinery stock opened at $17.05 on Friday. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. Titan Machinery Inc. has a 12-month low of $12.30 and a 12-month high of $24.92. The firm has a market capitalization of $394.30 million, a PE ratio of 12.72 and a beta of 1.28. The stock’s fifty day moving average is $16.70 and its 200-day moving average is $15.10.

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

Analyst Ratings Changes

A number of brokerages have issued reports on TITN. Robert W. Baird decreased their price target on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday. Baird R W raised shares of 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 assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.00.

Titan Machinery Profile

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.