Titan Machinery (NASDAQ:TITN) Stock Price Down 8.3% – Time to Sell?

Titan Machinery Inc. (NASDAQ:TITN)’s share price traded down 8.3% during trading on Wednesday. The company traded as low as $23.44 and last traded at $23.1190. 26,473 shares traded hands during trading, a decline of 87% from the average session volume of 197,265 shares. The stock had previously closed at $25.20.

Analysts Set New Price Targets

A number of research firms recently commented on TITN. Wall Street Zen downgraded Titan Machinery from a “hold” rating to a “sell” rating in a report on Sunday, September 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Titan Machinery in a research report on Friday, September 25th. Finally, Robert W. Baird set a $29.00 price target on Titan Machinery and gave the company an “outperform” rating in a research note on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Titan Machinery presently has an average rating of “Hold” and a consensus target price of $29.00.

Titan Machinery Stock Down 1.6%

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.35 and a quick ratio of 0.21. The company has a market capitalization of $556.79 million, a price-to-earnings ratio of -9.50 and a beta of 1.41. The firm has a 50-day moving average price of $21.63 and a two-hundred day moving average price of $20.38.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, August 27th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The business had revenue of $496.38 million for the quarter, compared to the consensus estimate of $483.78 million. Titan Machinery had a negative return on equity of 9.17% and a negative net margin of 2.46%.Titan Machinery has set its FY 2027 guidance at -1.750–1.250 EPS. As a group, sell-side analysts anticipate that Titan Machinery Inc. will post -1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Titan Machinery

A number of institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in Titan Machinery in the second quarter valued at approximately $45,000. Canada Pension Plan Investment Board acquired a new position in Titan Machinery in the 2nd quarter valued at about $289,000. State of Wyoming acquired a new stake in Titan Machinery during the second quarter worth approximately $359,000. Bristlecone Value Partners LLC acquired a new position in shares of Titan Machinery in the fourth quarter valued at approximately $256,000. Finally, Engineers Gate Manager LP lifted its holdings in Titan Machinery by 17.7% during the 2nd quarter. Engineers Gate Manager LP now owns 17,960 shares of the company’s stock worth $379,000 after purchasing an additional 2,700 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

About Titan Machinery

Titan Machinery Inc is a dealer network that sells, rents and supports agricultural and construction equipment. The company primarily operates Case IH agricultural equipment dealerships and CASE Construction Equipment dealerships, offering machinery such as tractors, combines, planters, tillage equipment, excavators, loaders and other equipment used by farmers, contractors and other commercial customers.

In addition to equipment sales, Titan Machinery provides parts, maintenance, repair and other after-sales services.