Equities research analysts expect Titan Machinery Inc. (NASDAQ:TITN) to announce $357.25 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Titan Machinery’s earnings, with the highest sales estimate coming in at $358.30 million and the lowest estimate coming in at $356.20 million. Titan Machinery posted sales of $339.61 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.2%. The company is scheduled to report its next earnings report before the market opens on Wednesday, March 27th.
According to Zacks, analysts expect that Titan Machinery will report full year sales of $1.27 billion for the current financial year. For the next fiscal year, analysts expect that the company will report sales of $1.33 billion, with estimates ranging from $1.32 billion to $1.34 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Titan Machinery.
Get Titan Machinery alerts:Several brokerages have recently issued reports on TITN. ValuEngine downgraded shares of Titan Machinery from a “buy” rating to a “hold” rating in a report on Monday, February 25th. Zacks Investment Research upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating and set a $20.00 price target for the company in a report on Saturday, December 1st. TheStreet upgraded Titan Machinery from a “c+” rating to a “b” rating in a report on Wednesday, February 13th. BidaskClub upgraded Titan Machinery from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. Finally, William Blair restated a “market perform” rating on shares of Titan Machinery in a report on Wednesday, January 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $24.67.
Shares of NASDAQ:TITN opened at $20.17 on Wednesday. The firm has a market cap of $453.51 million, a PE ratio of -168.08 and a beta of 2.20. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.49 and a quick ratio of 0.32. Titan Machinery has a 52-week low of $11.99 and a 52-week high of $25.09.
A number of hedge funds and other institutional investors have recently bought and sold shares of TITN. Public Employees Retirement System of Ohio increased its holdings in Titan Machinery by 51.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,534 shares of the company’s stock valued at $33,000 after purchasing an additional 866 shares during the period. Macquarie Group Ltd. boosted its position in Titan Machinery by 33.3% during the fourth quarter. Macquarie Group Ltd. now owns 3,199 shares of the company’s stock valued at $42,000 after acquiring an additional 800 shares during the last quarter. Quantamental Technologies LLC bought a new stake in Titan Machinery during the fourth quarter valued at $48,000. Legal & General Group Plc boosted its position in Titan Machinery by 51.7% during the fourth quarter. Legal & General Group Plc now owns 4,110 shares of the company’s stock valued at $55,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in Titan Machinery by 425.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,453 shares of the company’s stock valued at $85,000 after acquiring an additional 5,225 shares during the last quarter. Institutional investors and hedge funds own 77.10% of the company’s stock.
About Titan Machinery
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. 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 family of brands, as well as equipment from various other manufacturers.
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