Titan Machinery (NASDAQ:TITN) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

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.



A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in Titan Machinery by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,865,197 shares of the company’s stock valued at $24,527,000 after buying an additional 7,490 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Titan Machinery by 1.5% during the second quarter. Vanguard Group Inc. now owns 876,113 shares of the company’s stock worth $18,030,000 after purchasing an additional 12,897 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Titan Machinery by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 731,266 shares of the company’s stock worth $14,611,000 after purchasing an additional 9,254 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Titan Machinery during the second quarter worth about $8,449,000. Finally, Rutabaga Capital Management LLC MA lifted its position in shares of Titan Machinery by 10.1% during the second quarter. Rutabaga Capital Management LLC MA now owns 317,279 shares of the company’s stock worth $6,530,000 after purchasing an additional 29,000 shares during the last quarter. 77.44% of the stock is owned by institutional investors.

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.

Featured Article: What are no-load funds?

Earnings History for Titan Machinery (NASDAQ:TITN)

Receive News & Ratings for Titan Machinery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Machinery and related companies with MarketBeat.com's FREE daily email newsletter.