Titan Machinery (NASDAQ:TITN) Trading Up 12.7% – What’s Next?

Shares of Titan Machinery Inc. (NASDAQ:TITN) were up 12.7% during mid-day trading on Wednesday . The company traded as high as $21.90 and last traded at $23.14. 16,391 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 189,522 shares. The stock had previously closed at $20.54.

Analysts Set New Price Targets

TITN has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Titan Machinery in a research report on Monday, June 29th. Finally, Robert W. Baird set a $29.00 price target on shares of Titan Machinery and gave the stock an “outperform” rating in a research note on Monday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.00.

Titan Machinery Stock Down 2.4%

The stock has a market capitalization of $531.94 million, a price-to-earnings ratio of -9.17 and a beta of 1.43. The firm has a 50 day simple moving average of $19.07 and a 200-day simple moving average of $19.33. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 0.22.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, August 27th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The firm had revenue of $496.38 million during the quarter, compared to analyst estimates of $483.78 million. Titan Machinery had a negative net margin of 2.46% and a negative return on equity of 9.06%. Titan Machinery has set its FY 2027 guidance at -1.750–1.250 EPS. On average, sell-side analysts forecast that Titan Machinery Inc. will post -1.63 EPS for the current fiscal year.

Institutional Trading of Titan Machinery

Several hedge funds have recently modified their holdings of TITN. Quarry LP boosted its holdings in shares of Titan Machinery by 189.8% in the 3rd quarter. Quarry LP now owns 1,536 shares of the company’s stock worth $26,000 after acquiring an additional 1,006 shares in the last quarter. Legal & General Group Plc acquired a new stake in Titan Machinery during the 2nd quarter valued at $45,000. Tower Research Capital LLC TRC raised its position in Titan Machinery by 352.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $52,000 after purchasing an additional 2,043 shares during the last quarter. BNP Paribas Financial Markets raised its position in Titan Machinery by 94.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,032 shares of the company’s stock valued at $67,000 after purchasing an additional 1,957 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Titan Machinery by 441.4% in the second quarter. California State Teachers Retirement System now owns 6,188 shares of the company’s stock worth $131,000 after purchasing an additional 5,045 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Titan Machinery

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.