Titan Machinery (NASDAQ:TITN) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Titan Machinery (NASDAQ:TITN) released its quarterly earnings results on Tuesday. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.05, FiscalAI reports. The firm had revenue of $522.38 million during the quarter, compared to analyst estimates of $485.61 million. Titan Machinery had a negative return on equity of 8.40% and a negative net margin of 2.23%.

Titan Machinery Trading Up 2.9%

Shares of NASDAQ:TITN opened at $23.85 on Tuesday. The business’s 50-day moving average is $20.16 and its 200 day moving average is $18.11. Titan Machinery has a 1 year low of $13.21 and a 1 year high of $25.00. The firm has a market capitalization of $555.94 million, a P/E ratio of -10.02 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 0.24.

Analyst Ratings Changes

Several research firms have recently commented on TITN. Robert W. Baird reduced their price target on Titan Machinery from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Wall Street Zen raised Titan Machinery from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $17.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP increased its position in Titan Machinery by 189.8% during the 3rd quarter. Quarry LP now owns 1,536 shares of the company’s stock valued at $26,000 after buying an additional 1,006 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Titan Machinery by 352.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $52,000 after buying an additional 2,043 shares in the last quarter. BNP Paribas Financial Markets increased its position in Titan Machinery by 94.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,032 shares of the company’s stock valued at $67,000 after buying an additional 1,957 shares in the last quarter. Graham Capital Management L.P. increased its position in Titan Machinery by 8.1% during the 4th quarter. Graham Capital Management L.P. now owns 11,640 shares of the company’s stock valued at $175,000 after buying an additional 869 shares in the last quarter. Finally, State of Wyoming increased its position in Titan Machinery by 48.2% during the 2nd quarter. State of Wyoming now owns 9,442 shares of the company’s stock valued at $187,000 after buying an additional 3,070 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

About Titan Machinery

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.