Titan Machinery (NASDAQ:TITN) Releases Quarterly Earnings Results

Titan Machinery (NASDAQ:TITN – Get Rating) issued its quarterly earnings results on Thursday. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.19, Briefing.com reports. The business had revenue of $569.60 million during the quarter, compared to the consensus estimate of $595.52 million. Titan Machinery had a net margin of 4.61% and a return on equity of 20.81%. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. Titan Machinery updated its FY25 guidance to $4.50-5.10 EPS.

Titan Machinery Trading Down 0.8 %

TITN stock opened at $28.08 on Friday. The company has a quick ratio of 0.33, a current ratio of 1.75 and a debt-to-equity ratio of 0.17. The company has a market cap of $636.29 million, a price-to-earnings ratio of 6.29 and a beta of 1.63. The business has a fifty day simple moving average of $30.85 and a 200-day simple moving average of $37.37. Titan Machinery has a 52 week low of $21.50 and a 52 week high of $47.87.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com initiated coverage on shares of Titan Machinery in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Robert W. Baird dropped their target price on Titan Machinery from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, March 16th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Titan Machinery has a consensus rating of “Moderate Buy” and a consensus price target of $43.67.

Insider Activity at Titan Machinery

In other news, Director Stan K. Erickson purchased 3,000 shares of the company’s stock in a transaction on Tuesday, March 21st. The stock was bought at an average cost of $29.67 per share, for a total transaction of $89,010.00. Following the completion of the purchase, the director now directly owns 39,031 shares of the company’s stock, valued at approximately $1,158,049.77. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Titan Machinery

Several large investors have recently made changes to their positions in TITN. Coppell Advisory Solutions Corp. purchased a new stake in Titan Machinery during the 4th quarter worth $41,000. ICA Group Wealth Management LLC acquired a new stake in Titan Machinery in the 4th quarter valued at $49,000. Quarry LP increased its holdings in Titan Machinery by 204.2% in the 1st quarter. Quarry LP now owns 1,597 shares of the company’s stock valued at $49,000 after purchasing an additional 1,072 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Titan Machinery in the 1st quarter valued at $54,000. Finally, Quantbot Technologies LP acquired a new stake in Titan Machinery in the 2nd quarter valued at $161,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

About Titan Machinery

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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.