Titan Machinery Inc. (TITN) Forecasted to Post FY2019 Earnings of $0.55 Per Share

Titan Machinery Inc. (NASDAQ:TITN) – Investment analysts at William Blair increased their FY2019 earnings per share (EPS) estimates for Titan Machinery in a research note issued on Tuesday. William Blair analyst L. De. Maria now anticipates that the company will post earnings of $0.55 per share for the year, up from their prior forecast of $0.35. William Blair currently has a “Market Perform” rating on the stock.

Several other research firms also recently commented on TITN. Piper Jaffray Companies reiterated a “hold” rating on shares of Titan Machinery in a research note on Thursday, September 28th. ValuEngine upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. Zacks Investment Research cut shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. BidaskClub raised shares of Titan Machinery from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Finally, Robert W. Baird reissued an “outperform” rating and set a $25.00 target price (up previously from $18.00) on shares of Titan Machinery in a report on Friday, December 1st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Titan Machinery presently has an average rating of “Buy” and a consensus price target of $21.75.

Titan Machinery (NASDAQ:TITN) traded up $1.82 during trading on Thursday, reaching $23.56. The company had a trading volume of 494,657 shares, compared to its average volume of 358,467. Titan Machinery has a fifty-two week low of $11.68 and a fifty-two week high of $23.58. The company has a current ratio of 1.70, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $520.55, a P/E ratio of -30.60 and a beta of 1.76.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, November 30th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.08 by $0.12. Titan Machinery had a negative return on equity of 2.29% and a negative net margin of 1.44%. The business had revenue of $330.34 million for the quarter, compared to the consensus estimate of $306.74 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Titan Machinery’s revenue for the quarter was down .6% on a year-over-year basis.

Hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. bought a new stake in Titan Machinery during the 2nd quarter valued at $590,000. Granahan Investment Management Inc. MA raised its holdings in Titan Machinery by 36.1% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 530,067 shares of the company’s stock valued at $8,232,000 after acquiring an additional 140,498 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Titan Machinery by 17.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 117,045 shares of the company’s stock valued at $2,104,000 after acquiring an additional 17,298 shares during the period. Teachers Advisors LLC increased its holdings in shares of Titan Machinery by 27.0% in the second quarter. Teachers Advisors LLC now owns 44,686 shares of the company’s stock worth $803,000 after purchasing an additional 9,491 shares during the period. Finally, Alliancebernstein L.P. bought a new position in shares of Titan Machinery in the second quarter worth $1,983,000. 76.20% of the stock is currently owned by institutional investors and hedge funds.

In other Titan Machinery news, CEO David Joseph Meyer sold 61,796 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $21.85, for a total transaction of $1,350,242.60. Following the sale, the chief executive officer now owns 715,864 shares of the company’s stock, valued at approximately $15,641,628.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.08% of the company’s stock.

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Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.

Earnings History and Estimates for Titan Machinery (NASDAQ:TITN)

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