Titan Machinery (NASDAQ:TITN) Reaches New 52-Week High – Should You Buy?

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on TITN shares. Robert W. Baird lowered their target price 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. Wall Street Zen lowered shares of 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’s stock. According to MarketBeat, Titan Machinery has a consensus rating of “Reduce” and a consensus target price of $17.00.

Titan Machinery Trading Up 0.4%

The company has a 50 day simple moving average of $19.21 and a two-hundred day simple moving average of $17.79. 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 firm has a market cap of $508.60 million, a PE ratio of -9.17 and a beta of 1.38.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, March 19th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.44). Titan Machinery had a negative return on equity of 8.40% and a negative net margin of 2.23%.The firm had revenue of $641.83 million for the quarter, compared to analyst estimates of $615.53 million. Analysts expect that Titan Machinery Inc. will post -1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in Titan Machinery by 8.1% in the first quarter. Royal Bank of Canada now owns 66,882 shares of the company’s stock valued at $1,140,000 after purchasing an additional 4,988 shares during the last quarter. Creative Planning grew its position in Titan Machinery by 25.9% during the 2nd quarter. Creative Planning now owns 19,124 shares of the company’s stock worth $379,000 after purchasing an additional 3,939 shares during the period. JPMorgan Chase & Co. grew its position in Titan Machinery by 330.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 49,889 shares of the company’s stock worth $988,000 after purchasing an additional 38,296 shares during the period. Prudential Financial Inc. purchased a new position in shares of Titan Machinery during the 2nd quarter valued at about $246,000. Finally, Jump Financial LLC raised its stake in shares of Titan Machinery by 11.3% during the 2nd quarter. Jump Financial LLC now owns 38,300 shares of the company’s stock valued at $759,000 after buying an additional 3,874 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

About Titan Machinery

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.