Eagle Boston Investment Management Inc. raised its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,224 shares of the company’s stock after acquiring an additional 7,214 shares during the period. Eagle Boston Investment Management Inc. owned approximately 0.73% of Titan Machinery worth $3,434,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of TITN. Ameriprise Financial Inc. bought a new stake in shares of Titan Machinery in the second quarter valued at approximately $590,000. Granahan Investment Management Inc. MA boosted its stake in shares of Titan Machinery by 36.1% in the third quarter. Granahan Investment Management Inc. MA now owns 530,067 shares of the company’s stock valued at $8,232,000 after buying an additional 140,498 shares during the period. Vanguard Group Inc. boosted its stake in shares of Titan Machinery by 3.4% in the second quarter. Vanguard Group Inc. now owns 738,459 shares of the company’s stock valued at $13,277,000 after buying an additional 24,232 shares during the period. Teachers Advisors LLC boosted its stake in shares of Titan Machinery by 27.0% in the second quarter. Teachers Advisors LLC now owns 44,686 shares of the company’s stock valued at $803,000 after buying an additional 9,491 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Titan Machinery by 17.3% in the second quarter. TIAA CREF Investment Management LLC now owns 117,045 shares of the company’s stock valued at $2,104,000 after buying an additional 17,298 shares during the period. Institutional investors own 72.81% of the company’s stock.
Several brokerages recently issued reports on TITN. BidaskClub cut Titan Machinery from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Zacks Investment Research upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. Piper Jaffray Companies set a $19.00 target price on Titan Machinery and gave the stock a “hold” rating in a research note on Friday, December 1st. Robert W. Baird restated an “outperform” rating and set a $25.00 target price (up from $18.00) on shares of Titan Machinery in a research note on Friday, December 1st. Finally, William Blair upgraded Titan Machinery from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.00.
Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, November 30th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.12. Titan Machinery had a negative return on equity of 2.29% and a negative net margin of 1.44%. The firm had revenue of $330.34 million during the quarter, compared to analysts’ expectations of $306.74 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. equities analysts anticipate that Titan Machinery Inc. will post -0.19 EPS for the current fiscal year.
In other Titan Machinery news, CEO David Joseph Meyer sold 61,796 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total transaction of $1,350,242.60. Following the completion of the sale, the chief executive officer now directly owns 715,864 shares in the company, valued at $15,641,628.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.08% of the stock is owned by corporate insiders.
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Titan Machinery Profile
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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