Titan Machinery (NASDAQ:TITN) Reaches New 1-Year High – Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TITN. Robert W. Baird dropped their target price on shares of 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 cut Titan Machinery from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $17.00.

Titan Machinery Stock Up 0.3%

The stock has a 50 day simple moving average of $18.98 and a 200-day simple moving average of $17.72. The firm has a market cap of $505.71 million, a PE ratio of -9.12 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.

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

Institutional Trading of Titan Machinery

A number of institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Titan Machinery by 1.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,817,554 shares of the company’s stock worth $30,426,000 after purchasing an additional 23,272 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in shares of Titan Machinery by 11.3% in the 4th quarter. Nantahala Capital Management LLC now owns 1,220,520 shares of the company’s stock worth $18,357,000 after purchasing an additional 124,288 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Titan Machinery by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,214,954 shares of the company’s stock worth $20,338,000 after purchasing an additional 48,343 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Titan Machinery by 0.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 749,563 shares of the company’s stock worth $12,548,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Titan Machinery by 18.7% in the 4th quarter. Royce & Associates LP now owns 743,175 shares of the company’s stock worth $11,177,000 after purchasing an additional 117,108 shares in the last quarter. 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.