Titan Machinery (NASDAQ:TITN) Shares Up 12.7% – Still a Buy?

Titan Machinery Inc. (NASDAQ:TITNGet Free Report) was up 12.7% on Wednesday . The stock traded as high as $21.90 and last traded at $23.14. Approximately 16,391 shares changed hands during trading, a decline of 91% from the average daily volume of 189,522 shares. The stock had previously closed at $20.54.

Analyst Ratings Changes

A number of equities analysts have recently commented on TITN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Titan Machinery in a report on Monday, June 29th. Wall Street Zen lowered Titan Machinery from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Robert W. Baird set a $29.00 price target on Titan Machinery and gave the stock an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $29.00.

Read Our Latest Stock Report on Titan Machinery

Titan Machinery Trading Up 13.6%

The company has a quick ratio of 0.22, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The firm has a market cap of $543.64 million, a P/E ratio of -9.37 and a beta of 1.41. The company’s 50 day simple moving average is $18.99 and its 200-day simple moving average is $19.28.

Titan Machinery (NASDAQ:TITNGet Free Report) 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). Titan Machinery had a negative return on equity of 9.06% and a negative net margin of 2.46%.The business had revenue of $496.38 million during the quarter, compared to analysts’ expectations of $483.78 million. Titan Machinery has set its FY 2027 guidance at -1.750–1.250 EPS. As a group, research analysts predict that Titan Machinery Inc. will post -1.63 earnings per share for the current fiscal year.

Institutional Trading of Titan Machinery

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System boosted its stake in shares of Titan Machinery by 441.4% during the second quarter. California State Teachers Retirement System now owns 6,188 shares of the company’s stock valued at $131,000 after purchasing an additional 5,045 shares during the period. Nantahala Capital Management LLC purchased a new position in Titan Machinery in the 2nd quarter worth about $23,930,819. Empowered Funds LLC purchased a new position in Titan Machinery in the 2nd quarter worth about $2,753,000. Public Employees Retirement System of Ohio bought a new stake in Titan Machinery during the 2nd quarter valued at about $459,000. Finally, Bank of America Corp DE purchased a new stake in Titan Machinery in the 2nd quarter valued at about $1,863,000. 78.38% of the stock is currently owned by institutional investors.

Titan Machinery Company Profile

(Get Free Report)

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.

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