Stocks of Titan Machinery Inc. (NASDAQ:TITN) traded higher last session on Wall Street, down -4.55% to $29.61.
According to the data, Titan Machinery Inc. (NASDAQ:TITN) has 7 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $50.00 and a low of $30.00, we find $44.50. Given the previous closing price of $31.02, this indicates a potential upside of 43.46 percent. TITN stock price is now -1.94% away from the 50-day moving average and -14.93% away from the 200-day moving average. The market capitalization of the company currently stands at $703.24M.
A total of 1 analysts have issued a hold rating and 6 have given it a buy rating. Brokers who have rated the stock have averaged $42.17 as their price target over the next twelve months.
With the price target of $50, Lake Street recently initiated with Buy rating for Titan Machinery Inc. (NASDAQ: TITN).
In other news, Erickson Stan K., Director bought 3,000 shares of the company’s stock on Mar 21. The stock was bought for $89,010 at an average price of $29.67. Upon completion of the transaction, the Director now directly owns 39,031 shares in the company, valued at $1.16 million. Insiders disposed of 8,820 shares of company stock worth roughly $0.26 million over the past 1 year. A total of 10.74% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TITN stock. A new stake in Titan Machinery Inc. shares was purchased by WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC during the first quarter worth $12,937,000. PARK WEST ASSET MANAGEMENT LLC invested $9,742,000 in shares of TITN during the first quarter. In the first quarter, PEREGRINE CAPITAL MANAGEMENT LLC acquired a new stake in Titan Machinery Inc. valued at approximately $9,637,000. CHERRY TREE WEALTH MANAGEMENT, LLC acquired a new stake in TITN for approximately $6,974,000. GMT CAPITAL CORP purchased a new stake in TITN valued at around $3,384,000 in the second quarter. In total, there are 254 active investors with 83.00% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $31.45 for Titan Machinery Inc. (NASDAQ: TITN). During the past 12 months, Titan Machinery Inc. has had a low of $24.90 and a high of $47.87. As of last week, the company has a debt-to-equity ratio of 0.96, a current ratio of 1.60, and a quick ratio of 0.30. According to the stock market information, the enterprise value for the company is $1.23B, which is based on a 6.04 price-to-earnings ratio, a 0.24 price-to-earnings-growth ratio, and a beta of 1.67. The fifty day moving average price for TITN is $30.22 and a two-hundred day moving average price translates $34.78 for the stock.
The latest earnings results from Titan Machinery Inc. (NASDAQ: TITN) was released for Jul, 2023. According to the Industrial Distribution Company, earnings per share came in at $1.38, beating analysts’ expectations of $1.17 by 0.21. This compares to $0.79 EPS in the same period last year. The net profit margin was 4.30% and return on equity was 19.30% for TITN. The company reported revenue of $569.63 million for the quarter, compared to $461.01 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 23.56 percent. For the current quarter, analysts expect TITN to generate $728.72M in revenue.
Titan Machinery Inc.(TITN) Company Profile
Titan Machinery Inc. owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. 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 Industrial family of brands, as well as equipment from various other manufacturers. Its agricultural equipment includes machinery and attachments for use in the production of food, fiber, feed grain, and renewable energy; and home and garden applications, as well as maintenance of commercial, residential, and government properties. The company’s construction equipment comprises heavy construction machinery, light industrial machinery for commercial and residential construction, road and highway construction machinery, and energy and forestry operations equipment. It also sells maintenance and replacement parts. In addition, the company offers repair and maintenance services that include warranty repairs, off-site and on-site repair services, scheduling off-season maintenance services, and notifying customers of periodic service requirements; and training programs to customers. Further, it rents equipment; and provides ancillary equipment support services, such as equipment transportation, global positioning system signal subscriptions and other precision farming products, farm data management products, and CNH Industrial finance and insurance products. The company operates in Colorado, Idaho, Kansas, Missouri, Washington, Iowa, Minnesota, Montana, Nebraska, North Dakota, South Dakota, Wisconsin, and Wyoming, the United States; and Bulgaria, Germany, Romania, and Ukraine, Europe. Titan Machinery Inc. was founded in 1980 and is headquartered in West Fargo, North Dakota.
