Titan Machinery Inc. (TITN) Expected to Post Quarterly Sales of $357.25 Million

Wall Street analysts expect Titan Machinery Inc. (NASDAQ:TITN) to post $357.25 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Titan Machinery’s earnings, with the highest sales estimate coming in at $358.30 million and the lowest estimate coming in at $356.20 million. Titan Machinery posted sales of $339.61 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.2%. The company is scheduled to report its next earnings report before the market opens on Wednesday, March 27th.

On average, analysts expect that Titan Machinery will report full year sales of $1.27 billion for the current year. For the next year, analysts forecast that the firm will post sales of $1.33 billion, with estimates ranging from $1.32 billion to $1.34 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Titan Machinery.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut Titan Machinery from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. BidaskClub upgraded shares of Titan Machinery from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. ValuEngine downgraded shares of Titan Machinery from a “buy” rating to a “hold” rating in a report on Monday, February 25th. TheStreet upgraded shares of Titan Machinery from a “c+” rating to a “b” rating in a report on Wednesday, February 13th. Finally, William Blair reiterated a “market perform” rating on shares of Titan Machinery in a report on Wednesday, January 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.67.

NASDAQ TITN traded up $0.29 on Wednesday, hitting $19.35. 175,318 shares of the company’s stock were exchanged, compared to its average volume of 163,350. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.49 and a quick ratio of 0.32. Titan Machinery has a 52 week low of $11.99 and a 52 week high of $25.09. The stock has a market capitalization of $429.96 million, a PE ratio of -161.25 and a beta of 2.20.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in Titan Machinery by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 207,190 shares of the company’s stock valued at $2,724,000 after purchasing an additional 11,517 shares during the period. Dimensional Fund Advisors LP increased its holdings in Titan Machinery by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,865,197 shares of the company’s stock valued at $24,527,000 after purchasing an additional 7,490 shares during the period. Walthausen & Co. LLC increased its holdings in Titan Machinery by 5.7% in the fourth quarter. Walthausen & Co. LLC now owns 75,040 shares of the company’s stock valued at $987,000 after purchasing an additional 4,060 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Titan Machinery by 51.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,534 shares of the company’s stock valued at $33,000 after purchasing an additional 866 shares during the period. Finally, Millennium Management LLC increased its holdings in Titan Machinery by 26.2% in the fourth quarter. Millennium Management LLC now owns 181,343 shares of the company’s stock valued at $2,385,000 after purchasing an additional 37,691 shares during the period. Institutional investors and hedge funds own 77.43% 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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