Titan Machinery Inc. (NASDAQ:TITN) released its quarterly earnings data on Thursday, May 25th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.06, Bloomberg Earnings reports. The business had revenue of $264.10 million for the quarter, compared to the consensus estimate of $257 million. Titan Machinery had a negative return on equity of 4.11% and a negative net margin of 1.37%. Titan Machinery’s revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) earnings per share.
Shares of Titan Machinery (TITN) traded down 0.27% during trading on Friday, reaching $18.45. 143,669 shares of the company were exchanged. Titan Machinery has a one year low of $8.68 and a one year high of $19.22. The firm’s 50 day moving average price is $16.50 and its 200 day moving average price is $14.94. The company’s market capitalization is $394.31 million.
In related news, Chairman David Joseph Meyer sold 44,950 shares of Titan Machinery stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $17.25, for a total value of $775,387.50. Following the completion of the sale, the chairman now owns 724,660 shares of the company’s stock, valued at approximately $12,500,385. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 16.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of TITN. American International Group Inc. increased its position in shares of Titan Machinery by 7.2% in the first quarter. American International Group Inc. now owns 10,919 shares of the company’s stock valued at $167,000 after buying an additional 729 shares in the last quarter. Oxford Asset Management purchased a new stake in Titan Machinery during the first quarter worth $168,000. Dynamic Technology Lab Private Ltd purchased a new stake in Titan Machinery during the fourth quarter worth $174,000. A.R.T. Advisors LLC purchased a new stake in Titan Machinery during the fourth quarter worth $186,000. Finally, Hancock Holding Co. bought a new position in shares of Titan Machinery during the first quarter worth approximately $199,000. Institutional investors and hedge funds own 80.92% of the company’s stock.
A number of research firms have recently commented on TITN. ValuEngine raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research cut shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Finally, TheStreet upgraded shares of Titan Machinery from a “d+” rating to a “c-” rating in a research report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $16.50.
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Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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