Titan Machinery (NASDAQ:TITN) Stock Price Up 12.7% – Here’s Why

Titan Machinery Inc. (NASDAQ:TITN) shares rose 12.7% during mid-day trading 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.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Robert W. Baird set a $29.00 price target on Titan Machinery and gave the stock an “outperform” rating in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Titan Machinery in a research report on Monday, June 29th. Finally, Wall Street Zen downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $29.00.

Titan Machinery Stock Up 13.6%

The business has a 50-day moving average of $18.99 and a 200 day moving average of $19.28. The company has a market capitalization of $543.64 million, a PE ratio of -9.37 and a beta of 1.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 0.22.

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

Institutional Investors Weigh In On Titan Machinery

Large investors have recently bought and sold shares of the business. Quarry LP raised its stake in Titan Machinery by 189.8% during the third quarter. Quarry LP now owns 1,536 shares of the company’s stock valued at $26,000 after purchasing an additional 1,006 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Titan Machinery in the 2nd quarter worth $45,000. Tower Research Capital LLC TRC increased its holdings in shares of Titan Machinery by 352.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock worth $52,000 after buying an additional 2,043 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Titan Machinery by 94.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,032 shares of the company’s stock worth $67,000 after buying an additional 1,957 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Titan Machinery by 441.4% during the 2nd quarter. California State Teachers Retirement System now owns 6,188 shares of the company’s stock valued at $131,000 after buying an additional 5,045 shares in the last quarter. 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.