Titan Machinery (NASDAQ:TITN) Share Price Passes Above 200 Day Moving Average - What's Next?

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.87 and traded as high as $19.26. Titan Machinery shares last traded at $18.58, with a volume of 250,505 shares.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Robert W. Baird raised Titan Machinery from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $14.00 to $25.00 in a report on Monday, January 27th. Baird R W raised Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Titan Machinery has an average rating of "Hold" and an average target price of $19.20.

Titan Machinery Stock Up 0.9 %

The company has a 50 day moving average price of $15.70 and a two-hundred day moving average price of $14.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The stock has a market cap of $420.50 million, a PE ratio of 13.57 and a beta of 1.31.

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

Institutional Trading of Titan Machinery

A number of hedge funds have recently bought and sold shares of TITN. Sanctuary Advisors LLC purchased a new stake in Titan Machinery during the second quarter valued at $264,000. SG Americas Securities LLC purchased a new stake in Titan Machinery in the third quarter worth about $105,000. Ballentine Partners LLC purchased a new stake in Titan Machinery in the third quarter worth about $243,000. US Bancorp DE increased its position in Titan Machinery by 116.2% in the third quarter. US Bancorp DE now owns 3,120 shares of the company's stock worth $43,000 after buying an additional 1,677 shares in the last quarter. Finally, English Capital Management LLC increased its position in Titan Machinery by 84.9% in the third quarter. English Capital Management LLC now owns 278,853 shares of the company's stock worth $3,884,000 after buying an additional 128,073 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

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.