Titan Machinery (NASDAQ:TITN) Issues Q2 Earnings Guidance

Titan Machinery (NASDAQ:TITN) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.17 for the period, compared to the consensus estimate of $0.60. The company issued revenue guidance of $634 million, compared to the consensus revenue estimate of $696.55 million.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TITN shares. Craig Hallum lowered their price objective on shares of Titan Machinery from $30.00 to $25.00 and set a buy rating for the company in a research report on Friday, May 24th. Robert W. Baird dropped their price target on Titan Machinery from $24.00 to $18.00 and set a neutral rating on the stock in a research note on Friday, May 24th. StockNews.com lowered Titan Machinery from a hold rating to a sell rating in a report on Friday, May 24th. Finally, B. Riley downgraded Titan Machinery from a buy rating to a neutral rating and decreased their price objective for the stock from $32.00 to $20.00 in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $26.25.

Titan Machinery Stock Performance

NASDAQ TITN traded down $0.12 during trading on Wednesday, reaching $15.35. 173,264 shares of the company’s stock were exchanged, compared to its average volume of 218,618. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.29 and a quick ratio of 0.15. The business has a 50 day moving average price of $16.36 and a 200-day moving average price of $21.34. The stock has a market capitalization of $350.29 million, a P/E ratio of 3.72 and a beta of 1.31. Titan Machinery has a fifty-two week low of $14.72 and a fifty-two week high of $34.99.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings results on Thursday, May 23rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.26). Titan Machinery had a net margin of 3.37% and a return on equity of 14.93%. The business had revenue of $628.70 million during the quarter, compared to the consensus estimate of $664.18 million. Sell-side analysts forecast that Titan Machinery will post 2.22 earnings per share for the current fiscal year.

Insider Activity at Titan Machinery

In related news, Director David Joseph Meyer acquired 55,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average cost of $18.12 per share, for a total transaction of $996,600.00. Following the completion of the transaction, the director now directly owns 1,805,000 shares of the company’s stock, valued at approximately $32,706,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.28% of the stock is owned by company insiders.

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.