Titan Machinery (NASDAQ:TITN) announced its quarterly earnings data on Thursday. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.02), Morningstar.com reports. Titan Machinery had a net margin of 1.03% and a return on equity of 5.06%. The business had revenue of $315.00 million during the quarter, compared to analysts’ expectations of $315.40 million. During the same period in the prior year, the firm posted $0.28 EPS. Titan Machinery’s revenue for the quarter was up 6.0% compared to the same quarter last year. Titan Machinery updated its FY 2020 guidance to $0.75-0.95 EPS and its FY20 guidance to $0.75-0.95 EPS.
Shares of Titan Machinery stock opened at $16.93 on Thursday. The company has a fifty day moving average price of $19.40 and a 200 day moving average price of $18.21. The company has a current ratio of 1.39, a quick ratio of 0.31 and a debt-to-equity ratio of 0.36. Titan Machinery has a twelve month low of $11.99 and a twelve month high of $21.88. The stock has a market cap of $372.24 million, a price-to-earnings ratio of 25.27 and a beta of 2.13.
In other Titan Machinery news, COO Bryan J. Knutson sold 3,711 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $19.71, for a total value of $73,143.81. Following the completion of the transaction, the chief operating officer now directly owns 28,315 shares of the company’s stock, valued at approximately $558,088.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tony Christianson sold 22,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $19.63, for a total transaction of $431,860.00. Following the completion of the transaction, the director now directly owns 42,076 shares of the company’s stock, valued at $825,951.88. The disclosure for this sale can be found here. 15.37% of the stock is currently owned by corporate insiders.
TITN has been the topic of several research analyst reports. BidaskClub lowered Titan Machinery from a “hold” rating to a “sell” rating in a research note on Friday, August 16th. Robert W. Baird upgraded Titan Machinery from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $18.00 to $24.00 in a research report on Sunday, June 16th. Zacks Investment Research downgraded Titan Machinery from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 17th. Finally, ValuEngine downgraded Titan Machinery from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Titan Machinery currently has an average rating of “Hold” and a consensus target price of $21.50.
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 Industrial family of brands, as well as equipment from various other manufacturers.
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