Titan Machinery Inc. (NASDAQ:TITN) – Research analysts at William Blair raised their FY2019 earnings estimates for shares of Titan Machinery in a research report issued on Friday, November 30th. William Blair analyst L. De. Maria now anticipates that the company will post earnings of $0.70 per share for the year, up from their previous forecast of $0.60.
A number of other research analysts have also weighed in on TITN. Zacks Investment Research raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a report on Saturday. ValuEngine raised shares of Titan Machinery from a “hold” rating to a “buy” rating in a report on Friday. Finally, BidaskClub lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Friday, October 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $24.00.
TITN stock opened at $17.53 on Monday. Titan Machinery has a fifty-two week low of $13.28 and a fifty-two week high of $25.09. The company has a quick ratio of 0.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $389.48 million, a P/E ratio of -146.08 and a beta of 1.60.
Titan Machinery (NASDAQ:TITN) last posted its earnings results on Thursday, November 29th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. Titan Machinery had a net margin of 1.28% and a return on equity of 4.16%. The firm had revenue of $363.65 million during the quarter, compared to analyst estimates of $360.30 million. During the same period last year, the firm posted $0.20 earnings per share. Titan Machinery’s revenue for the quarter was up 10.1% compared to the same quarter last year.
In other Titan Machinery news, Chairman David Joseph Meyer sold 53,000 shares of Titan Machinery stock in a transaction on Friday, November 30th. The shares were sold at an average price of $18.56, for a total transaction of $983,680.00. Following the completion of the transaction, the chairman now directly owns 662,864 shares of the company’s stock, valued at $12,302,755.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.46% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Smith Asset Management Group LP boosted its stake in Titan Machinery by 190.3% during the second quarter. Smith Asset Management Group LP now owns 9,793 shares of the company’s stock worth $152,000 after buying an additional 6,420 shares during the period. Jefferies Group LLC purchased a new position in Titan Machinery during the third quarter worth $158,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Titan Machinery during the third quarter worth $159,000. Virtu Financial LLC purchased a new position in Titan Machinery during the third quarter worth $170,000. Finally, Trexquant Investment LP purchased a new position in Titan Machinery during the third quarter worth $178,000. 77.76% of the stock is owned by institutional investors.
About Titan Machinery
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH family of brands, as well as equipment from various other manufacturers.
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