Titan Machinery (NASDAQ:TITN) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.78 and traded as high as $19.00. Titan Machinery shares last traded at $18.99, with a volume of 352,439 shares.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Baird R W upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. Robert W. Baird upgraded shares of Titan Machinery from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $14.00 to $25.00 in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Titan Machinery has a consensus rating of "Hold" and a consensus target price of $19.20.

Titan Machinery Stock Up 0.4 %

The firm has a market capitalization of $438.54 million, a price-to-earnings ratio of 14.15 and a beta of 1.31. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $15.36 and a two-hundred day moving average of $14.84.

Titan Machinery (NASDAQ:TITN - Get Free Report) last posted its earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.04. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The firm had revenue of $679.80 million for the quarter, compared to analysts' expectations of $675.30 million. During the same quarter in the previous year, the firm posted $1.32 earnings per share. The company's revenue was down 2.1% on a year-over-year basis.

Institutional Trading of Titan Machinery

Several hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Titan Machinery during the 4th quarter worth approximately $26,000. Truvestments Capital LLC bought a new position in shares of Titan Machinery during the third quarter valued at $41,000. US Bancorp DE lifted its holdings in shares of Titan Machinery by 116.2% during the third quarter. US Bancorp DE now owns 3,120 shares of the company's stock worth $43,000 after purchasing an additional 1,677 shares during the period. FMR LLC grew its stake in shares of Titan Machinery by 142.5% in the third quarter. FMR LLC now owns 5,262 shares of the company's stock worth $73,000 after purchasing an additional 3,092 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Titan Machinery in the third quarter valued at $105,000. 78.38% of the stock is currently owned by institutional investors.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. 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.