Titan Machinery (NASDAQ:TITN) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Titan Machinery Inc. (NASDAQ:TITN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.42 and traded as high as $21.76. Titan Machinery shares last traded at $21.47, with a volume of 140,539 shares trading hands.

Wall Street Analyst Weigh In

TITN has been the topic of a number of analyst reports. Wall Street Zen raised Titan Machinery from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Robert W. Baird reduced their price objective on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Titan Machinery has a consensus rating of “Reduce” and an average target price of $17.00.

Titan Machinery Stock Performance

The firm’s 50-day simple moving average is $20.74 and its two-hundred day simple moving average is $18.42. The company has a current ratio of 1.38, a quick ratio of 0.22 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $500.25 million, a PE ratio of -9.14 and a beta of 1.38.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Tuesday, June 9th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.05. The company had revenue of $522.38 million during the quarter, compared to analyst estimates of $485.61 million. Titan Machinery had a negative return on equity of 8.44% and a negative net margin of 2.28%.During the same quarter in the prior year, the company earned ($0.58) earnings per share. Titan Machinery has set its FY 2027 guidance at -1.750–1.250 EPS. On average, equities research analysts expect that Titan Machinery Inc. will post -1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Titan Machinery

Several hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Titan Machinery by 1.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,817,554 shares of the company’s stock worth $30,426,000 after acquiring an additional 23,272 shares in the last quarter. Nantahala Capital Management LLC grew its stake in Titan Machinery by 11.3% during the 4th quarter. Nantahala Capital Management LLC now owns 1,220,520 shares of the company’s stock valued at $18,357,000 after acquiring an additional 124,288 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Titan Machinery by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,214,954 shares of the company’s stock valued at $20,338,000 after purchasing an additional 48,343 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Titan Machinery by 0.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 749,563 shares of the company’s stock valued at $12,548,000 after purchasing an additional 2,000 shares during the period. Finally, Royce & Associates LP increased its holdings in shares of Titan Machinery by 18.7% in the 4th quarter. Royce & Associates LP now owns 743,175 shares of the company’s stock valued at $11,177,000 after purchasing an additional 117,108 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.