Titan Machinery (NASDAQ:TITN) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Titan Machinery Inc. (NASDAQ:TITN)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.88 and traded as high as $19.74. Titan Machinery shares last traded at $19.41, with a volume of 139,787 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TITN shares. Robert W. Baird lowered their price objective on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Titan Machinery in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded Titan Machinery from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $19.00.

Titan Machinery Stock Up 4.8%

The firm has a 50-day moving average of $18.19 and a 200 day moving average of $16.91. The stock has a market capitalization of $475.17 million, a price-to-earnings ratio of -8.55 and a beta of 1.26. The company has a current ratio of 1.41, a quick ratio of 0.24 and a debt-to-equity ratio of 0.35.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Thursday, March 19th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.44). The company had revenue of $641.83 million for the quarter, compared to analyst estimates of $615.53 million. Titan Machinery had a negative return on equity of 8.40% and a negative net margin of 2.23%.

Hedge Funds Weigh In On Titan Machinery

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Titan Machinery by 1.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,817,554 shares of the company’s stock worth $30,426,000 after acquiring an additional 23,272 shares in the last quarter. Nantahala Capital Management LLC lifted its position in Titan Machinery by 11.3% during the 4th quarter. Nantahala Capital Management LLC now owns 1,220,520 shares of the company’s stock worth $18,357,000 after acquiring an additional 124,288 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Titan Machinery by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,214,954 shares of the company’s stock valued at $20,338,000 after purchasing an additional 48,343 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Titan Machinery by 0.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 749,563 shares of the company’s stock valued at $12,548,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of Titan Machinery by 18.7% in the 4th quarter. Royce & Associates LP now owns 743,175 shares of the company’s stock valued at $11,177,000 after purchasing an additional 117,108 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

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.