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.
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