Equities research analysts expect that Titan Machinery Inc. (NASDAQ:TITN) will announce sales of $289.90 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Titan Machinery’s earnings. The lowest sales estimate is $283.20 million and the highest is $296.60 million. Titan Machinery reported sales of $268.87 million during the same quarter last year, which indicates a positive year over year growth rate of 7.8%. The company is scheduled to report its next earnings report on Thursday, August 30th.
On average, analysts expect that Titan Machinery will report full-year sales of $1.24 billion for the current year. For the next year, analysts forecast that the firm will report sales of $1.32 billion per share. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Titan Machinery.
Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, May 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $245.70 million for the quarter, compared to the consensus estimate of $275.70 million. Titan Machinery had a negative net margin of 0.23% and a negative return on equity of 0.08%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) earnings per share.
TITN has been the topic of a number of research reports. Zacks Investment Research raised shares of Titan Machinery from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, May 29th. BidaskClub raised shares of Titan Machinery from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. Robert W. Baird set a $26.00 price objective on shares of Titan Machinery and gave the stock a “buy” rating in a report on Thursday, March 29th. Craig Hallum restated a “buy” rating and set a $26.00 target price on shares of Titan Machinery in a research note on Thursday, March 29th. Finally, ValuEngine upgraded shares of Titan Machinery from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.75.
Shares of Titan Machinery traded up $0.15, reaching $16.85, on Friday, according to Marketbeat.com. The company’s stock had a trading volume of 392,900 shares, compared to its average volume of 217,643. The company has a current ratio of 1.66, a quick ratio of 0.34 and a debt-to-equity ratio of 0.26. The company has a market cap of $375.35 million, a price-to-earnings ratio of -140.42 and a beta of 1.52. Titan Machinery has a 12-month low of $11.68 and a 12-month high of $25.09.
In other Titan Machinery news, COO Bryan J. Knutson sold 2,374 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $23.91, for a total transaction of $56,762.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stan K. Erickson bought 3,000 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were purchased at an average price of $18.06 per share, for a total transaction of $54,180.00. Following the purchase, the director now owns 16,495 shares in the company, valued at approximately $297,899.70. The disclosure for this purchase can be found here. 15.46% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Bailard Inc. bought a new stake in shares of Titan Machinery during the fourth quarter valued at approximately $404,000. Virtu Financial LLC bought a new stake in shares of Titan Machinery during the fourth quarter valued at approximately $211,000. Two Sigma Investments LP raised its position in shares of Titan Machinery by 258.3% during the fourth quarter. Two Sigma Investments LP now owns 216,489 shares of the company’s stock valued at $4,583,000 after buying an additional 156,062 shares during the last quarter. Investors Research Corp bought a new stake in shares of Titan Machinery during the fourth quarter valued at approximately $1,114,000. Finally, Bogle Investment Management L P DE bought a new stake in shares of Titan Machinery during the fourth quarter valued at approximately $1,382,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.
Titan Machinery Company Profile
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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