Titan Machinery (NASDAQ:TITN) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Titan Machinery (NASDAQ:TITN) posted its quarterly earnings results on Tuesday. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.05, FiscalAI reports. The firm had revenue of $522.38 million for the quarter, compared to analyst estimates of $485.61 million. Titan Machinery had a negative return on equity of 8.40% and a negative net margin of 2.23%.

Titan Machinery Stock Performance

TITN opened at $23.85 on Tuesday. The company has a market cap of $555.94 million, a PE ratio of -10.02 and a beta of 1.38. The stock has a 50-day moving average of $20.16 and a 200-day moving average of $18.11. Titan Machinery has a 52-week low of $13.21 and a 52-week high of $25.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.24 and a current ratio of 1.41.

Institutional Trading of Titan Machinery

Several hedge funds have recently added to or reduced their stakes in TITN. Quarry LP boosted its stake in Titan Machinery by 189.8% during the 3rd quarter. Quarry LP now owns 1,536 shares of the company’s stock valued at $26,000 after purchasing an additional 1,006 shares during the period. Tower Research Capital LLC TRC boosted its stake in Titan Machinery by 352.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $52,000 after purchasing an additional 2,043 shares during the period. BNP Paribas Financial Markets raised its holdings in Titan Machinery by 94.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,032 shares of the company’s stock valued at $67,000 after acquiring an additional 1,957 shares in the last quarter. Graham Capital Management L.P. raised its holdings in Titan Machinery by 8.1% in the 4th quarter. Graham Capital Management L.P. now owns 11,640 shares of the company’s stock valued at $175,000 after acquiring an additional 869 shares in the last quarter. Finally, State of Wyoming raised its holdings in Titan Machinery by 48.2% in the 2nd quarter. State of Wyoming now owns 9,442 shares of the company’s stock valued at $187,000 after acquiring an additional 3,070 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen raised Titan Machinery from a “sell” rating to a “hold” rating in a research report on Saturday. Robert W. Baird dropped their price target on Titan Machinery from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $17.00.

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.