Titan Machinery (NASDAQ:TITN) Issues Q2 Earnings Guidance

Titan Machinery (NASDAQ:TITN) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.17 for the period, compared to the consensus EPS estimate of $0.60. The company issued revenue guidance of $634 million, compared to the consensus revenue estimate of $696.55 million.

Analysts Set New Price Targets

Several research firms recently weighed in on TITN. StockNews.com downgraded Titan Machinery from a hold rating to a sell rating in a report on Friday, May 24th. B. Riley lowered shares of Titan Machinery from a buy rating to a neutral rating and cut their target price for the company from $32.00 to $20.00 in a research report on Wednesday, June 5th. Robert W. Baird dropped their price target on Titan Machinery from $24.00 to $18.00 and set a neutral rating for the company in a research note on Friday, May 24th. Finally, Craig Hallum reduced their price objective on Titan Machinery from $30.00 to $25.00 and set a buy rating on the stock in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $26.25.

Titan Machinery Trading Down 0.8 %

Shares of NASDAQ:TITN traded down $0.12 during midday trading on Wednesday, reaching $15.35. The company’s stock had a trading volume of 173,264 shares, compared to its average volume of 218,618. The firm has a market capitalization of $350.29 million, a price-to-earnings ratio of 3.72 and a beta of 1.31. The firm has a 50 day moving average price of $16.36 and a two-hundred day moving average price of $21.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.15 and a current ratio of 1.29. Titan Machinery has a fifty-two week low of $14.72 and a fifty-two week high of $34.99.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, May 23rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.26). Titan Machinery had a return on equity of 14.93% and a net margin of 3.37%. The firm had revenue of $628.70 million for the quarter, compared to analyst estimates of $664.18 million. As a group, analysts forecast that Titan Machinery will post 2.22 earnings per share for the current year.

Insider Activity at Titan Machinery

In other news, Director David Joseph Meyer bought 55,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $18.12 per share, with a total value of $996,600.00. Following the transaction, the director now directly owns 1,805,000 shares in the company, valued at $32,706,600. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 10.28% of the stock is currently owned by insiders.

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.