Titan Machinery (NASDAQ:TITN) Sees Strong Trading Volume

Shares of Titan Machinery Inc. (NASDAQ:TITNGet Rating) saw unusually-strong trading volume on Tuesday . Approximately 5,130 shares were traded during trading, a decline of 97% from the previous session’s volume of 176,826 shares.The stock last traded at $23.99 and had previously closed at $23.98.

A number of equities research analysts have commented on TITN shares. Stephens decreased their price objective on shares of Titan Machinery from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, May 27th. StockNews.com started coverage on shares of Titan Machinery in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. TheStreet lowered shares of Titan Machinery from a “b” rating to a “c+” rating in a research note on Thursday, May 26th. Finally, Robert W. Baird raised their target price on shares of Titan Machinery from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, May 26th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $37.67.

The firm’s 50 day moving average is $25.06 and its two-hundred day moving average is $28.67. The firm has a market cap of $549.58 million, a P/E ratio of 7.40 and a beta of 1.64. The company has a current ratio of 1.79, a quick ratio of 0.61 and a debt-to-equity ratio of 0.18.

Titan Machinery (NASDAQ:TITNGet Rating) last released its quarterly earnings data on Thursday, May 26th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.26. Titan Machinery had a net margin of 4.06% and a return on equity of 17.72%. The business had revenue of $461.10 million for the quarter, compared to analyst estimates of $409.00 million. During the same quarter last year, the firm earned $0.46 EPS. Titan Machinery’s quarterly revenue was up 23.7% compared to the same quarter last year. Analysts predict that Titan Machinery Inc. will post 3.15 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in TITN. Morgan Stanley boosted its stake in Titan Machinery by 8.6% during the 2nd quarter. Morgan Stanley now owns 343,263 shares of the company’s stock worth $10,621,000 after acquiring an additional 27,266 shares during the last quarter. Citigroup Inc. raised its holdings in Titan Machinery by 274.1% during the 3rd quarter. Citigroup Inc. now owns 3,449 shares of the company’s stock worth $89,000 after buying an additional 2,527 shares during the period. Franklin Resources Inc. acquired a new stake in Titan Machinery during the 3rd quarter worth approximately $401,000. Invesco Ltd. raised its holdings in Titan Machinery by 7.4% during the 3rd quarter. Invesco Ltd. now owns 69,390 shares of the company’s stock worth $1,798,000 after buying an additional 4,775 shares during the period. Finally, Royal Bank of Canada raised its holdings in Titan Machinery by 56.9% during the 3rd quarter. Royal Bank of Canada now owns 18,757 shares of the company’s stock worth $486,000 after buying an additional 6,805 shares during the period. 78.45% of the stock is currently owned by institutional investors and hedge funds.

About Titan Machinery (NASDAQ:TITN)

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores in the United States and Europe. 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 Industrial family of brands, as well as equipment from various other manufacturers.

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