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

Titan Machinery Inc. (NASDAQ:TITN) gapped up before the market opened on Tuesday. The stock had previously closed at $22.14, but opened at $23.94. Titan Machinery shares last traded at $23.82, with a volume of 1,250 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TITN. Robert W. Baird raised shares of Titan Machinery from a “neutral” rating to an “outperform” rating and set a $29.00 price objective for the company in a report on Monday, August 31st. Wall Street Zen raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a research note on Sunday, November 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Titan Machinery in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Titan Machinery presently has a consensus rating of “Hold” and a consensus target price of $29.00.

Titan Machinery Stock Up 2.2%

The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.21 and a current ratio of 1.35. The stock has a 50 day moving average price of $23.55 and a 200 day moving average price of $20.24. The company has a market cap of $570.84 million, a P/E ratio of -9.74 and a beta of 1.39.

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

Hedge Funds Weigh In On Titan Machinery

Large investors have recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in shares of Titan Machinery in the 2nd quarter worth approximately $45,000. Canada Pension Plan Investment Board bought a new stake in Titan Machinery during the second quarter worth approximately $289,000. State of Wyoming acquired a new position in Titan Machinery in the second quarter worth approximately $359,000. Engineers Gate Manager LP grew its position in Titan Machinery by 17.7% in the second quarter. Engineers Gate Manager LP now owns 17,960 shares of the company’s stock worth $379,000 after buying an additional 2,700 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Titan Machinery in the second quarter valued at $459,000. Institutional investors own 78.38% of the company’s stock.

About Titan Machinery

Titan Machinery, Inc. is an equipment dealer serving the agriculture and construction industries. The company sells new and used machinery through a network of dealerships in the United States and Europe, representing manufacturers such as Case IH, New Holland Agriculture and Case Construction Equipment. Its offerings include tractors, combines, planting and hay equipment, loaders, excavators and other construction machinery. Titan Machinery also provides replacement parts, equipment maintenance and repair, rentals, and precision agriculture products and services.