Titan Machinery (NASDAQ:TITN) Shares Gap Up - Should You Buy?

Key Points

• Titan Machinery shares opened sharply higher, rising from a prior close of $22.14 to an opening price of $23.94, before last trading at $23.82.
• Analyst views are mixed: ratings include one Buy and one Sell, resulting in an overall Hold consensus and an average price target of $29.
• The latest quarter’s loss per share was worse than expected ($0.40 versus a $0.36 loss estimate), although revenue topped forecasts at $496.38 million; the company reported negative net margin and return on equity.

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) gapped up before the market opened on Tuesday. The stock had previously closed at $22.14, but opened at $23.94. Titan Machinery shares last traded at $23.82, with a volume of 1,250 shares trading hands.

Analyst Ratings Changes

TITN has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Titan Machinery in a research note on Friday, September 25th. Wall Street Zen upgraded shares of Titan Machinery from a "sell" rating to a "hold" rating in a research report on Sunday, November 1st. Finally, Robert W. Baird raised shares of Titan Machinery from a "neutral" rating to an "outperform" rating and set a $29.00 price objective on the stock in a report on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Titan Machinery currently has an average rating of "Hold" and an average price target of $29.00.

Titan Machinery Trading Down 3.9%

The company has a 50 day simple moving average of $23.41 and a two-hundred day simple moving average of $20.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.21 and a current ratio of 1.35. The company has a market cap of $545.66 million, a PE ratio of -9.39 and a beta of 1.39.

Titan Machinery (NASDAQ:TITN - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The firm had revenue of $496.38 million for the quarter, compared to analyst estimates of $483.78 million. Titan Machinery had a negative net margin of 2.46% and a negative return on equity of 9.17%. Titan Machinery has set its FY 2027 guidance at -1.750--1.250 EPS. Sell-side analysts forecast that Titan Machinery Inc. will post -1.67 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TITN. Legal & General Group Plc bought a new stake in Titan Machinery in the 2nd quarter valued at $45,000. Canada Pension Plan Investment Board bought a new stake in Titan Machinery in the second quarter valued at $289,000. State of Wyoming acquired a new stake in shares of Titan Machinery during the 2nd quarter worth about $359,000. Engineers Gate Manager LP raised its stake in shares of Titan Machinery by 17.7% in the second quarter. Engineers Gate Manager LP now owns 17,960 shares of the company's stock valued at $379,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Titan Machinery during the second quarter worth $459,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery Company Profile

Titan Machinery Inc is a regional agricultural and construction equipment dealer headquartered in West Fargo, North Dakota. The company sells and rents new and used equipment, along with replacement parts and related products, and provides repair, maintenance and other support services to commercial and agricultural customers.

Its agricultural offerings include tractors, combines, planting and seeding equipment, sprayers, hay and forage equipment, and other farm machinery. The company also distributes construction equipment used in earthmoving, roadbuilding, material handling and related applications.

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