Titan Machinery Inc. (NASDAQ:TITN – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $18.42 and traded as high as $21.76. Titan Machinery shares last traded at $21.47, with a volume of 140,539 shares trading hands.
Analysts Set New Price Targets
TITN has been the subject of a number of research reports. Robert W. Baird decreased their price target on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Wall Street Zen upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Titan Machinery has an average rating of “Reduce” and a consensus price target of $17.00.
Titan Machinery Stock Down 2.6%
Titan Machinery (NASDAQ:TITN – Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.05. Titan Machinery had a negative net margin of 2.28% and a negative return on equity of 8.44%. The firm had revenue of $522.38 million for the quarter, compared to the consensus estimate of $485.61 million. During the same quarter in the previous year, the firm posted ($0.58) EPS. Titan Machinery has set its FY 2027 guidance at -1.750–1.250 EPS. As a group, research analysts forecast that Titan Machinery Inc. will post -1.5 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC grew its stake in Titan Machinery by 137.9% during the 1st quarter. Janus Henderson Group PLC now owns 719,639 shares of the company’s stock valued at $12,032,000 after purchasing an additional 417,190 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of Titan Machinery by 13.5% during the 1st quarter. Quantinno Capital Management LP now owns 43,061 shares of the company’s stock valued at $720,000 after buying an additional 5,130 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Titan Machinery by 33.5% during the 1st quarter. Renaissance Technologies LLC now owns 101,797 shares of the company’s stock valued at $1,702,000 after buying an additional 25,569 shares during the last quarter. State of Wyoming grew its position in shares of Titan Machinery by 3.0% during the first quarter. State of Wyoming now owns 24,568 shares of the company’s stock worth $411,000 after buying an additional 715 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in shares of Titan Machinery by 21.6% in the first quarter. Stephens Investment Management Group LLC now owns 680,469 shares of the company’s stock worth $11,377,000 after buying an additional 120,880 shares during 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.
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