Titan Machinery Inc. to Post FY2019 Earnings of $0.55 Per Share, William Blair Forecasts (TITN)

Titan Machinery Inc. (NASDAQ:TITN) – William Blair raised their FY2019 earnings estimates for shares of Titan Machinery in a research note issued on Tuesday. William Blair analyst L. De. Maria now expects that the company will post earnings of $0.55 per share for the year, up from their previous forecast of $0.35. William Blair currently has a “Market Perform” rating on the stock.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings results on Thursday, November 30th. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.12. The company had revenue of $330.34 million for the quarter, compared to the consensus estimate of $306.74 million. Titan Machinery had a negative net margin of 1.44% and a negative return on equity of 2.29%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) EPS.

Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Titan Machinery from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, December 6th. BidaskClub raised shares of Titan Machinery from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. Piper Jaffray Companies set a $19.00 target price on shares of Titan Machinery and gave the company a “hold” rating in a research report on Friday, December 1st. Robert W. Baird reissued an “outperform” rating and set a $25.00 target price (up previously from $18.00) on shares of Titan Machinery in a research report on Friday, December 1st. Finally, ValuEngine raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $21.75.

Titan Machinery (TITN) traded up $1.82 during mid-day trading on Thursday, reaching $23.56. 494,600 shares of the company traded hands, compared to its average volume of 358,467. The stock has a market cap of $520.55, a P/E ratio of -30.60 and a beta of 1.76. Titan Machinery has a 52 week low of $11.68 and a 52 week high of $23.58. The company has a quick ratio of 0.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.31.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in Titan Machinery during the 3rd quarter valued at about $155,000. Numeric Investors LLC bought a new stake in shares of Titan Machinery in the 2nd quarter valued at about $191,000. Voya Investment Management LLC boosted its holdings in shares of Titan Machinery by 14.2% in the 2nd quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock valued at $207,000 after buying an additional 1,429 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Titan Machinery by 29.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock valued at $235,000 after buying an additional 2,939 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Titan Machinery in the 3rd quarter valued at about $211,000. 76.20% of the stock is currently owned by institutional investors and hedge funds.

In other Titan Machinery news, CEO David Joseph Meyer sold 61,796 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $21.85, for a total transaction of $1,350,242.60. Following the transaction, the chief executive officer now owns 715,864 shares of the company’s stock, valued at approximately $15,641,628.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.08% of the company’s stock.

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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.

Earnings History and Estimates for Titan Machinery (NASDAQ:TITN)

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