Titan Machinery (NASDAQ:TITN) Stock Crosses Above 200 Day Moving Average – What’s Next?

Titan Machinery Inc. (NASDAQ:TITN) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $17.68 and traded as high as $19.99. Titan Machinery shares last traded at $19.98, with a volume of 165,223 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Robert W. Baird cut their target price on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $17.00.

Titan Machinery Trading Up 7.0%

The company has a quick ratio of 0.24, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average is $18.87 and its 200 day moving average is $17.68. The firm has a market capitalization of $465.71 million, a price-to-earnings ratio of -8.39 and a beta of 1.38.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.44). Titan Machinery had a negative return on equity of 8.40% and a negative net margin of 2.23%.The company had revenue of $641.83 million for the quarter, compared to analyst estimates of $615.53 million. Equities analysts predict that Titan Machinery Inc. will post -1.73 earnings per share for the current year.

Institutional Investors Weigh In On Titan Machinery

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP raised its holdings in shares of Titan Machinery by 189.8% during the third quarter. Quarry LP now owns 1,536 shares of the company’s stock worth $26,000 after acquiring an additional 1,006 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Titan Machinery by 352.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock worth $52,000 after acquiring an additional 2,043 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Titan Machinery by 94.3% during the third quarter. BNP Paribas Financial Markets now owns 4,032 shares of the company’s stock worth $67,000 after acquiring an additional 1,957 shares during the period. SG Americas Securities LLC bought a new position in Titan Machinery in the fourth quarter valued at $101,000. Finally, PNC Financial Services Group Inc. grew its position in Titan Machinery by 14.6% in the third quarter. PNC Financial Services Group Inc. now owns 8,341 shares of the company’s stock valued at $140,000 after purchasing an additional 1,063 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

About Titan Machinery

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.