Titan Machinery (TITN) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of Titan Machinery (NASDAQ:TITN) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “Titan Machinery represents a diversified mix of agricultural, construction, and consumer products dealerships located in the upper Midwest. Their Shared Resource Headquarters is located in the heart of the Red River Valley in Fargo, ND. Titan Machinery is a dealer for Case IH, Case Construction, New Holland, and New Holland Construction. Titan Machinery also represents shortline equipment to meet specialized customer demand and niche product needs. “

A number of other brokerages also recently weighed in on TITN. BidaskClub raised shares of Titan Machinery from a hold rating to a buy rating in a report on Tuesday, March 5th. ValuEngine downgraded Titan Machinery from a buy rating to a hold rating in a report on Monday, February 25th. TheStreet upgraded Titan Machinery from a c+ rating to a b rating in a report on Wednesday, February 13th. Finally, William Blair restated a market perform rating on shares of Titan Machinery in a report on Wednesday, January 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Titan Machinery presently has a consensus rating of Buy and an average target price of $24.67.

Shares of NASDAQ TITN opened at $20.22 on Wednesday. Titan Machinery has a twelve month low of $11.99 and a twelve month high of $25.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.49 and a quick ratio of 0.32. The stock has a market capitalization of $449.25 million, a price-to-earnings ratio of -168.50 and a beta of 2.20.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Investors Research Corp raised its holdings in Titan Machinery by 1.4% during the 4th quarter. Investors Research Corp now owns 50,990 shares of the company’s stock worth $671,000 after buying an additional 700 shares during the period. Citigroup Inc. raised its holdings in Titan Machinery by 12.3% during the 4th quarter. Citigroup Inc. now owns 7,025 shares of the company’s stock worth $92,000 after buying an additional 769 shares during the period. Macquarie Group Ltd. raised its holdings in Titan Machinery by 33.3% during the 4th quarter. Macquarie Group Ltd. now owns 3,199 shares of the company’s stock worth $42,000 after buying an additional 800 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Titan Machinery by 51.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,534 shares of the company’s stock worth $33,000 after buying an additional 866 shares during the period. Finally, Legal & General Group Plc raised its holdings in Titan Machinery by 51.7% during the 4th quarter. Legal & General Group Plc now owns 4,110 shares of the company’s stock worth $55,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 77.42% of the company’s stock.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH family of brands, as well as equipment from various other manufacturers.

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