Titan Machinery (NASDAQ:TITN) released its quarterly earnings results on Monday. The company reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.28, MarketWatch Earnings reports. The business had revenue of $454.00 million during the quarter, compared to analysts’ expectations of $429.88 million. Titan Machinery had a return on equity of 11.04% and a net margin of 2.10%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the firm posted $0.58 EPS.
Shares of TITN opened at $38.29 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Titan Machinery has a one year low of $17.92 and a one year high of $38.58. The business has a 50-day moving average of $28.71. The stock has a market capitalization of $865.20 million, a price-to-earnings ratio of 26.59 and a beta of 1.74.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating and set a $33.00 price target on the stock in a research note on Wednesday, September 1st. Robert W. Baird downgraded Titan Machinery from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $37.00 to $41.00 in a research note on Wednesday. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Titan Machinery currently has an average rating of “Buy” and an average target price of $34.25.
About Titan Machinery
Titan Machinery, Inc engages in the management of agricultural and construction equipment stores. It operates through the following segments: Agriculture, Construction and International. The Agriculture segment sells services and rents machinery and related parts and attachments, for uses from large-scale farming to home and garden use in North America.
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