Titan Machinery (TITN) Sees Large Volume Increase

Titan Machinery Inc. (NASDAQ:TITN) saw unusually-high trading volume on Wednesday . Approximately 759,542 shares traded hands during mid-day trading, an increase of 250% from the previous session’s volume of 217,282 shares.The stock last traded at $17.94 and had previously closed at $17.80.

TITN has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Titan Machinery from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Tuesday, May 29th. BidaskClub raised Titan Machinery from a “sell” rating to a “hold” rating in a report on Wednesday, May 30th. Finally, ValuEngine downgraded Titan Machinery from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Titan Machinery presently has an average rating of “Buy” and an average price target of $22.75.

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.43 and a quick ratio of 0.29. The firm has a market cap of $396.37 million, a P/E ratio of -149.33 and a beta of 1.61.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, August 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.16. Titan Machinery had a return on equity of 2.16% and a net margin of 0.63%. The company had revenue of $299.89 million during the quarter, compared to the consensus estimate of $291.08 million. During the same quarter last year, the company earned ($0.04) earnings per share. Titan Machinery’s quarterly revenue was up 11.5% compared to the same quarter last year. research analysts anticipate that Titan Machinery Inc. will post 0.63 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in Titan Machinery by 794.6% in the first quarter. Citigroup Inc. now owns 5,672 shares of the company’s stock valued at $133,000 after acquiring an additional 5,038 shares during the period. Smith Asset Management Group LP lifted its holdings in Titan Machinery by 190.3% in the second quarter. Smith Asset Management Group LP now owns 9,793 shares of the company’s stock valued at $152,000 after acquiring an additional 6,420 shares during the period. First Republic Investment Management Inc. acquired a new stake in Titan Machinery in the first quarter valued at $236,000. Sun Life Financial INC acquired a new stake in Titan Machinery in the second quarter valued at $187,000. Finally, Matarin Capital Management LLC acquired a new stake in Titan Machinery in the first quarter valued at $405,000. 82.55% of the stock is owned by institutional investors.

About Titan Machinery (NASDAQ:TITN)

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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