Titan Machinery (NASDAQ:TITN) Reaches New 12-Month High – Time to Buy?

Titan Machinery Inc. (NASDAQ:TITN)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $21.93 and last traded at $21.5850, with a volume of 39149 shares. The stock had previously closed at $21.64.

Analyst Upgrades and Downgrades

A number of research firms have commented on TITN. Robert W. Baird reduced their target price on Titan Machinery from $21.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 20th. Wall Street Zen lowered Titan Machinery from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Titan Machinery currently has a consensus rating of “Reduce” and an average target price of $17.00.

Titan Machinery Stock Up 0.3%

The company has a quick ratio of 0.24, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The company has a market cap of $505.71 million, a P/E ratio of -9.12 and a beta of 1.38. The company has a fifty day moving average of $18.98 and a 200 day moving average of $17.72.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.44). Titan Machinery had a negative return on equity of 8.40% and a negative net margin of 2.23%.The firm had revenue of $641.83 million during the quarter, compared to the consensus estimate of $615.53 million. On average, research analysts anticipate that Titan Machinery Inc. will post -1.73 earnings per share for the current fiscal year.

Institutional Trading of Titan Machinery

Several hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Titan Machinery by 1.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,817,554 shares of the company’s stock valued at $30,426,000 after purchasing an additional 23,272 shares during the period. Nantahala Capital Management LLC grew its holdings in Titan Machinery by 11.3% during the fourth quarter. Nantahala Capital Management LLC now owns 1,220,520 shares of the company’s stock valued at $18,357,000 after purchasing an additional 124,288 shares during the period. Vanguard Group Inc. grew its holdings in Titan Machinery by 4.1% during the third quarter. Vanguard Group Inc. now owns 1,214,954 shares of the company’s stock valued at $20,338,000 after purchasing an additional 48,343 shares during the period. First Eagle Investment Management LLC grew its holdings in Titan Machinery by 0.3% during the third quarter. First Eagle Investment Management LLC now owns 749,563 shares of the company’s stock valued at $12,548,000 after purchasing an additional 2,000 shares during the period. Finally, Royce & Associates LP grew its holdings in Titan Machinery by 18.7% during the fourth quarter. Royce & Associates LP now owns 743,175 shares of the company’s stock valued at $11,177,000 after purchasing an additional 117,108 shares during the period. Institutional investors own 78.38% of the company’s stock.

Titan Machinery Company Profile

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.