Titan Machinery (NASDAQ:TITN) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Titan Machinery's shares recently crossed above its 200-day moving average, trading as high as $21.24 and last at $20.99 versus the 200‑day MA of $17.22.
• Analyst sentiment is negative: the stock carries an average "Reduce" rating with a consensus price target of $19.00, and several recent downgrades from Baird, Wall Street Zen and Weiss.
• Fundamentals are mixed—quarterly EPS missed at (‑$1.43) versus (‑$0.99) expected while revenue beat at $641.8M, and the company reported a negative net margin (‑2.23%) and ROE (‑8.40%).

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.22 and traded as high as $21.24. Titan Machinery shares last traded at $20.99, with a volume of 67,747 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Robert W. Baird lowered their target price on Titan Machinery from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, March 20th. Wall Street Zen lowered Titan Machinery from a "hold" rating to a "sell" rating in a research report on Saturday, April 4th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Titan Machinery in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $19.00.

Titan Machinery Stock Performance

The stock has a fifty day simple moving average of $18.48 and a two-hundred day simple moving average of $17.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.24 and a current ratio of 1.41. The stock has a market capitalization of $489.28 million, a price-to-earnings ratio of -8.82 and a beta of 1.38.

Titan Machinery (NASDAQ:TITN - Get Free Report) last announced its earnings results on Thursday, March 19th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.44). Titan Machinery had a negative net margin of 2.23% and a negative return on equity of 8.40%. The business had revenue of $641.83 million for the quarter, compared to the consensus estimate of $615.53 million. Analysts forecast that Titan Machinery Inc. will post -1.73 earnings per share for the current fiscal year.

Institutional Trading of Titan Machinery

Several hedge funds have recently modified their holdings of TITN. Quarry LP boosted its stake in 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 in the last quarter. New York State Teachers Retirement System bought a new stake in Titan Machinery in the third quarter valued at $32,000. Tower Research Capital LLC TRC increased its stake in Titan Machinery by 352.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company's stock valued at $52,000 after purchasing an additional 2,043 shares in the last quarter. 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 valued at $67,000 after purchasing an additional 1,957 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Titan Machinery during the 4th quarter worth about $101,000. Institutional investors own 78.38% of the company's stock.

Titan Machinery Company Profile

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.

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