Titan Machinery (NASDAQ:TITN) Shares Gap Down – Here’s What Happened

Shares of Titan Machinery Inc. (NASDAQ:TITN) gapped down before the market opened on Tuesday . The stock had previously closed at $23.86, but opened at $21.75. Titan Machinery shares last traded at $21.7740, with a volume of 36,713 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have commented on TITN shares. Wall Street Zen raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a research note on Saturday. Robert W. Baird reduced their price objective on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $17.00.

Titan Machinery Trading Down 17.9%

The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.24 and a current ratio of 1.41. The company has a 50 day simple moving average of $20.16 and a two-hundred day simple moving average of $18.11. The company has a market cap of $456.41 million, a PE ratio of -8.31 and a beta of 1.38.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Tuesday, June 9th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.05. Titan Machinery had a negative return on equity of 8.40% and a negative net margin of 2.23%.The company had revenue of $522.38 million for the quarter, compared to analysts’ expectations of $485.61 million. During the same quarter in the previous year, the business posted ($0.58) EPS. Titan Machinery has set its FY 2027 guidance at -1.750–1.250 EPS. Sell-side analysts forecast that Titan Machinery Inc. will post -1.7 EPS for the current year.

Hedge Funds Weigh In On Titan Machinery

Institutional investors and hedge funds have recently bought and sold shares of the business. Teton Advisors LLC bought a new stake in shares of Titan Machinery in the 3rd quarter valued at approximately $1,440,000. Royce & Associates LP raised its position in Titan Machinery by 12.8% during the third quarter. Royce & Associates LP now owns 626,067 shares of the company’s stock valued at $10,480,000 after acquiring an additional 70,992 shares in the last quarter. Stephens Investment Management Group LLC raised its position in Titan Machinery by 30.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 559,589 shares of the company’s stock valued at $8,416,000 after acquiring an additional 129,215 shares in the last quarter. EVR Research LP raised its position in Titan Machinery by 25.0% during the third quarter. EVR Research LP now owns 250,000 shares of the company’s stock valued at $4,185,000 after acquiring an additional 50,000 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in Titan Machinery by 16.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 419,450 shares of the company’s stock valued at $7,022,000 after acquiring an additional 58,510 shares in the last quarter. Hedge funds and other 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.