Titan Machinery (NASDAQ:TITN) Shares Down 8.3% – Should You Sell?

Titan Machinery Inc. (NASDAQ:TITN)’s share price was down 8.3% on Wednesday. The stock traded as low as $23.44 and last traded at $23.1190. 26,473 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 197,265 shares. The stock had previously closed at $25.20.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Robert W. Baird set a $29.00 price target on Titan Machinery and gave the stock an “outperform” rating in a research note on Monday, August 31st. Wall Street Zen cut Titan Machinery from a “hold” rating to a “sell” rating in a report on Sunday, September 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Titan Machinery in a research report on Friday, September 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Titan Machinery presently has a consensus rating of “Hold” and a consensus target price of $29.00.

Titan Machinery Price Performance

The company’s 50-day simple moving average is $21.39 and its 200 day simple moving average is $20.24. The company has a market cap of $562.84 million, a PE ratio of -9.61 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.21 and a current ratio of 1.35.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, August 27th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). The company had revenue of $496.38 million for the quarter, compared to analysts’ expectations of $483.78 million. Titan Machinery had a negative return on equity of 9.17% and a negative net margin of 2.46%.Titan Machinery has set its FY 2027 guidance at -1.750–1.250 EPS. On average, sell-side analysts predict that Titan Machinery Inc. will post -1.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Titan Machinery

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Titan Machinery during the second quarter worth approximately $1,306,000. William Blair Investment Management LLC purchased a new position in Titan Machinery in the second quarter worth approximately $12,297,000. Nantahala Capital Management LLC acquired a new position in Titan Machinery during the 2nd quarter worth approximately $23,930,819. BlackRock Inc. purchased a new stake in shares of Titan Machinery in the 2nd quarter valued at approximately $35,477,000. Finally, Empowered Funds LLC purchased a new stake in shares of Titan Machinery in the 2nd quarter valued at approximately $2,753,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Company Profile

Titan Machinery Inc is a dealer network that sells, rents and supports agricultural and construction equipment. The company primarily operates Case IH agricultural equipment dealerships and CASE Construction Equipment dealerships, offering machinery such as tractors, combines, planters, tillage equipment, excavators, loaders and other equipment used by farmers, contractors and other commercial customers.

In addition to equipment sales, Titan Machinery provides parts, maintenance, repair and other after-sales services.