Titan Machinery (NASDAQ:TITN) Shares Pass Above 200-Day Moving Average - Time to Sell?

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.22 and traded as high as $21.75. Titan Machinery shares last traded at $21.60, with a volume of 96,792 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Northland Securities upgraded Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price for the company in a report on Friday, April 11th. Wall Street Zen upgraded Titan Machinery from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Robert W. Baird dropped their target price on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, March 21st. B. Riley upped their target price on Titan Machinery from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Finally, Northland Capmk upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Titan Machinery Trading Down 1.8%

The firm has a market capitalization of $489.76 million, a PE ratio of -8.07 and a beta of 1.35. The company has a current ratio of 1.33, a quick ratio of 0.18 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average price of $19.53 and a two-hundred day moving average price of $17.32.

Titan Machinery (NASDAQ:TITN - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The company reported ($0.58) earnings per share for the quarter, topping analysts' consensus estimates of ($0.79) by $0.21. The business had revenue of $594.34 million during the quarter, compared to analysts' expectations of $445.76 million. Titan Machinery had a negative return on equity of 8.22% and a negative net margin of 2.23%.

Hedge Funds Weigh In On Titan Machinery

Several institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE grew its position in Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company's stock valued at $55,000 after acquiring an additional 741 shares during the period. SummerHaven Investment Management LLC grew its position in Titan Machinery by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 51,255 shares of the company's stock valued at $873,000 after acquiring an additional 768 shares during the period. Russell Investments Group Ltd. grew its position in Titan Machinery by 51.2% during the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company's stock valued at $37,000 after acquiring an additional 882 shares during the period. Bridgeway Capital Management LLC grew its position in Titan Machinery by 5.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 20,000 shares of the company's stock valued at $283,000 after acquiring an additional 962 shares during the period. Finally, Gabelli Funds LLC grew its position in Titan Machinery by 1.1% during the first quarter. Gabelli Funds LLC now owns 94,500 shares of the company's stock valued at $1,610,000 after acquiring an additional 1,000 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.