Titan Machinery (NASDAQ:TITN) Sets New 52-Week High – Here’s What Happened

Titan Machinery Inc. (NASDAQ:TITN)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $24.67 and last traded at $24.8370, with a volume of 100931 shares. The stock had previously closed at $23.18.

Analyst Ratings Changes

TITN has been the subject of a number of research reports. Wall Street Zen upgraded shares of Titan Machinery from a “sell” rating to a “hold” rating in a research report on Saturday. Robert W. Baird decreased their target price 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. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $17.00.

Titan Machinery Stock Up 3.4%

The company has a market capitalization of $558.93 million, a price-to-earnings ratio of -10.12 and a beta of 1.38. The business’s 50-day moving average is $20.00 and its 200-day moving average is $18.05. The company has a quick ratio of 0.24, a current ratio of 1.41 and a debt-to-equity ratio of 0.35.

Titan Machinery (NASDAQ:TITN) last posted its earnings results on Thursday, March 19th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.44). The business had revenue of $641.83 million for the quarter, compared to analyst estimates of $615.53 million. Titan Machinery had a negative net margin of 2.23% and a negative return on equity of 8.40%. As a group, equities analysts predict that Titan Machinery Inc. will post -1.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teton Advisors LLC purchased a new position in Titan Machinery in the third quarter valued at $1,440,000. Royce & Associates LP increased its holdings in Titan Machinery by 12.8% in the third quarter. Royce & Associates LP now owns 626,067 shares of the company’s stock valued at $10,480,000 after buying an additional 70,992 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in Titan Machinery by 30.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 559,589 shares of the company’s stock valued at $8,416,000 after buying an additional 129,215 shares in the last quarter. EVR Research LP increased its position in shares of Titan Machinery by 25.0% in the third quarter. EVR Research LP now owns 250,000 shares of the company’s stock valued at $4,185,000 after buying an additional 50,000 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its position in shares of Titan Machinery by 16.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 419,450 shares of the company’s stock valued at $7,022,000 after buying an additional 58,510 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Titan Machinery Company Profile

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.