Titan Machinery (NASDAQ:TITN) Shares Cross Above 200 Day Moving Average – What’s Next?

Titan Machinery Inc. (NASDAQ:TITN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.71 and traded as high as $23.85. Titan Machinery shares last traded at $23.72, with a volume of 289,594 shares traded.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TITN shares. Robert W. Baird set a $29.00 target price on shares of Titan Machinery and gave the company an “outperform” rating in a research note on Monday, August 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Titan Machinery in a research note on Monday, June 29th. Finally, Wall Street Zen cut Titan Machinery from a “hold” rating to a “sell” rating in a report on Sunday, September 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.00.

Titan Machinery Stock Down 1.2%

The company has a current ratio of 1.35, a quick ratio of 0.21 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $558.13 million, a P/E ratio of -9.53 and a beta of 1.43. The company has a 50 day simple moving average of $20.24 and a two-hundred day simple moving average of $19.71.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Thursday, August 27th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Titan Machinery had a negative net margin of 2.46% and a negative return on equity of 9.17%. The company had revenue of $496.38 million for the quarter, compared to the consensus estimate of $483.78 million. Titan Machinery has set its FY 2027 guidance at -1.750–1.250 EPS. On average, equities analysts predict that Titan Machinery Inc. will post -1.67 EPS for the current fiscal year.

Institutional Trading of Titan Machinery

A number of institutional investors and hedge funds have recently bought and sold shares of TITN. BlackRock Inc. purchased a new position in shares of Titan Machinery during the second quarter valued at about $35,477,000. Nantahala Capital Management LLC purchased a new stake in shares of Titan Machinery in the second quarter worth about $23,930,819. Jupiter Topco LLC bought a new position in Titan Machinery during the second quarter valued at approximately $23,822,000. Royce & Associates LP boosted its stake in Titan Machinery by 18.7% during the fourth quarter. Royce & Associates LP now owns 743,175 shares of the company’s stock valued at $11,177,000 after buying an additional 117,108 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Titan Machinery by 137.9% during the 1st quarter. Janus Henderson Group PLC now owns 719,639 shares of the company’s stock valued at $12,032,000 after buying an additional 417,190 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

About Titan Machinery

Titan Machinery Inc is an agricultural and construction equipment dealer headquartered in West Fargo, North Dakota. The company operates a network of dealerships that sells new and used equipment, replacement parts, and related products to farmers, construction contractors, and other commercial customers.

Its agricultural offerings include tractors, combines, planting and seeding equipment, sprayers, hay and forage machinery, and other farm equipment. Its construction business provides equipment such as excavators, wheel loaders, skid steers, dozers, and other machinery used in construction and infrastructure projects.