Titan Machinery (NASDAQ:TITN) Stock Crosses Above 200-Day Moving Average – Here’s Why

Titan Machinery Inc. (NASDAQ:TITN)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $20.57 and traded as high as $23.36. Titan Machinery shares last traded at $22.76, with a volume of 182,653 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on TITN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Titan Machinery in a report on Friday, September 25th. Wall Street Zen downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a research note on Sunday, September 6th. Finally, Robert W. Baird set a $29.00 price objective on Titan Machinery and gave the stock an “outperform” rating in a research report on Monday, August 31st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Titan Machinery currently has an average rating of “Hold” and a consensus price target of $29.00.

Titan Machinery Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.35 and a quick ratio of 0.21. The company has a 50-day moving average price of $22.05 and a two-hundred day moving average price of $20.62. The company has a market cap of $521.90 million, a PE ratio of -8.91 and a beta of 1.41.

Titan Machinery (NASDAQ:TITN) last issued its earnings results 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 business had revenue of $496.38 million for the quarter, compared to analyst estimates 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. Sell-side analysts expect that Titan Machinery Inc. will post -1.67 earnings per share for the current fiscal year.

Institutional Trading of Titan Machinery

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cherry Tree Wealth Management LLC raised its position in shares of Titan Machinery by 1.8% in the 3rd quarter. Cherry Tree Wealth Management LLC now owns 245,921 shares of the company’s stock valued at $5,676,000 after acquiring an additional 4,322 shares during the period. Engineers Gate Manager LP raised its holdings in shares of Titan Machinery by 17.7% during the second quarter. Engineers Gate Manager LP now owns 17,960 shares of the company’s stock worth $379,000 after acquiring an additional 2,700 shares during the period. Nantahala Capital Management LLC bought a new stake in shares of Titan Machinery in the second quarter valued at about $23,930,819. Empowered Funds LLC acquired a new position in Titan Machinery during the 2nd quarter worth approximately $2,753,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Titan Machinery during the 2nd quarter worth about $459,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.