William Blair Analysts Increase Earnings Estimates for Titan Machinery Inc. (TITN)

Titan Machinery Inc. (NASDAQ:TITN) – Research analysts at William Blair upped their Q3 2019 earnings per share (EPS) estimates for shares of Titan Machinery in a report released on Thursday, May 31st. William Blair analyst L. De. Maria now expects that the company will post earnings of $0.50 per share for the quarter, up from their previous estimate of $0.40. William Blair has a “Hold” rating on the stock. William Blair also issued estimates for Titan Machinery’s FY2019 earnings at $0.45 EPS.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Thursday, May 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Titan Machinery had a negative net margin of 0.23% and a negative return on equity of 0.08%. The firm had revenue of $245.70 million during the quarter, compared to analyst estimates of $275.70 million. During the same quarter last year, the business earned ($0.19) EPS. The company’s revenue was down 7.0% compared to the same quarter last year.

Several other research analysts have also issued reports on the stock. Craig Hallum restated a “buy” rating and set a $26.00 price target on shares of Titan Machinery in a report on Thursday, March 29th. BidaskClub upgraded shares of Titan Machinery from a “hold” rating to a “buy” rating in a research note on Thursday, March 15th. Robert W. Baird set a $26.00 price objective on shares of Titan Machinery and gave the company a “buy” rating in a research note on Thursday, March 29th. Zacks Investment Research lowered shares of Titan Machinery from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, ValuEngine lowered shares of Titan Machinery from a “buy” rating to a “hold” rating in a research note on Saturday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Titan Machinery currently has a consensus rating of “Hold” and a consensus price target of $23.75.

Titan Machinery stock opened at $18.25 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.83 and a quick ratio of 0.39. Titan Machinery has a 52-week low of $11.68 and a 52-week high of $25.09. The company has a market cap of $380.00 million, a price-to-earnings ratio of -152.08 and a beta of 1.52.

A number of hedge funds have recently made changes to their positions in TITN. Systematic Financial Management LP bought a new stake in Titan Machinery during the 4th quarter valued at $14,904,000. Renaissance Technologies LLC increased its stake in Titan Machinery by 839.2% during the 4th quarter. Renaissance Technologies LLC now owns 379,447 shares of the company’s stock valued at $8,033,000 after purchasing an additional 339,047 shares in the last quarter. Millennium Management LLC increased its stake in Titan Machinery by 2,466.1% during the 4th quarter. Millennium Management LLC now owns 269,570 shares of the company’s stock valued at $5,707,000 after purchasing an additional 259,065 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Titan Machinery during the 1st quarter valued at $4,681,000. Finally, Mackay Shields LLC bought a new stake in Titan Machinery during the 1st quarter valued at $4,227,000. Institutional investors and hedge funds own 83.74% of the company’s stock.

In related news, Director Stan K. Erickson acquired 3,000 shares of the stock in a transaction dated Friday, June 1st. The stock was bought at an average price of $18.06 per share, for a total transaction of $54,180.00. Following the purchase, the director now directly owns 16,495 shares of the company’s stock, valued at approximately $297,899.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Bryan J. Knutson sold 2,374 shares of Titan Machinery stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $23.91, for a total transaction of $56,762.34. The disclosure for this sale can be found here. Insiders own 15.46% of the company’s stock.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH family of brands, as well as equipment from various other manufacturers.

Earnings History and Estimates for Titan Machinery (NASDAQ:TITN)

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