Titan Machinery (NASDAQ:TITN) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

TITN has been the topic of a number of recent analyst reports. Northland Capmk raised Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Robert W. Baird reduced their price target on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Northland Securities raised Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a research report on Friday, April 11th. B. Riley increased their target price on Titan Machinery from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Finally, Wall Street Zen raised Titan Machinery from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Titan Machinery Stock Down 2.4%

The firm has a 50-day simple moving average of $19.44 and a 200 day simple moving average of $17.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.18. The company has a market capitalization of $486.53 million, a PE ratio of -8.02 and a beta of 1.35.

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

Hedge Funds Weigh In On Titan Machinery

A number of hedge funds and other institutional investors have recently bought and sold shares of TITN. Russell Investments Group Ltd. boosted its stake in Titan Machinery by 51.2% in 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. US Bancorp DE boosted its position in shares of Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company's stock worth $55,000 after buying an additional 741 shares during the period. New York State Common Retirement Fund raised its holdings in Titan Machinery by 42.8% during the first quarter. New York State Common Retirement Fund now owns 4,674 shares of the company's stock worth $80,000 after purchasing an additional 1,400 shares in the last quarter. State of Wyoming bought a new stake in Titan Machinery during the first quarter worth approximately $109,000. Finally, PNC Financial Services Group Inc. raised its holdings in Titan Machinery by 91.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company's stock worth $122,000 after purchasing an additional 4,103 shares in the last quarter. 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.