Titan Machinery (NASDAQ:TITN) Announces Quarterly Earnings Results

Titan Machinery (NASDAQ:TITN) announced its earnings results on Tuesday. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.05, FiscalAI reports. The company had revenue of $522.38 million for the quarter, compared to analyst estimates of $485.61 million. Titan Machinery had a negative return on equity of 8.40% and a negative net margin of 2.23%.

Titan Machinery Trading Up 2.9%

Shares of TITN stock opened at $23.85 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.24 and a current ratio of 1.41. Titan Machinery has a 1 year low of $13.21 and a 1 year high of $25.00. The stock has a fifty day moving average of $20.16 and a two-hundred day moving average of $18.11. The firm has a market capitalization of $555.94 million, a PE ratio of -10.02 and a beta of 1.38.

Institutional Trading of Titan Machinery

Institutional investors have recently modified their holdings of the company. Graham Capital Management L.P. grew its holdings in Titan Machinery by 8.1% during the fourth quarter. Graham Capital Management L.P. now owns 11,640 shares of the company’s stock worth $175,000 after acquiring an additional 869 shares during the period. Gabelli Funds LLC grew its holdings in Titan Machinery by 1.1% during the second quarter. Gabelli Funds LLC now owns 95,500 shares of the company’s stock worth $1,892,000 after acquiring an additional 1,000 shares during the period. Quarry LP grew its holdings in Titan Machinery by 189.8% during the third quarter. Quarry LP now owns 1,536 shares of the company’s stock worth $26,000 after acquiring an additional 1,006 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Titan Machinery by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,364 shares of the company’s stock worth $337,000 after purchasing an additional 1,705 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Titan Machinery by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 502,976 shares of the company’s stock worth $7,566,000 after purchasing an additional 1,728 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wall Street Zen upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research report on Saturday. Robert W. Baird decreased their target price on Titan Machinery from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Titan Machinery currently has an average rating of “Reduce” and an average price target of $17.00.

Titan Machinery Company Profile

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.