Titan Machinery (NASDAQ:TITN) Shares Cross Above 200-Day Moving Average – Should You Sell?

Shares of Titan Machinery Inc. (NASDAQ:TITN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.47 and traded as high as $21.47. Titan Machinery shares last traded at $20.56, with a volume of 139,901 shares.

Analysts Set New Price Targets

TITN has been the subject of several research analyst reports. Wall Street Zen downgraded Titan Machinery from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Titan Machinery in a report on Thursday, January 22nd. Finally, Robert W. Baird reduced their price target on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $19.00.

Titan Machinery Trading Down 3.7%

The business’s fifty day moving average is $18.68 and its 200-day moving average is $17.47. The stock has a market capitalization of $479.25 million, a PE ratio of -8.64 and a beta of 1.38. The company has a quick ratio of 0.24, a current ratio of 1.41 and a debt-to-equity ratio of 0.35.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, March 19th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.44). Titan Machinery had a negative net margin of 2.23% and a negative return on equity of 8.40%. The company had revenue of $641.83 million during the quarter, compared to analysts’ expectations of $615.53 million. As a group, analysts anticipate that Titan Machinery Inc. will post -1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Titan Machinery

A number of large investors have recently modified their holdings of TITN. Stephens Investment Management Group LLC boosted its position in Titan Machinery by 21.6% during the 1st quarter. Stephens Investment Management Group LLC now owns 680,469 shares of the company’s stock worth $11,377,000 after purchasing an additional 120,880 shares during the period. Pullen Investment Management LLC boosted its position in Titan Machinery by 7.3% during the 1st quarter. Pullen Investment Management LLC now owns 70,244 shares of the company’s stock worth $1,174,000 after purchasing an additional 4,792 shares during the period. Empowered Funds LLC boosted its position in Titan Machinery by 10.8% during the 4th quarter. Empowered Funds LLC now owns 138,984 shares of the company’s stock worth $2,090,000 after purchasing an additional 13,580 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Titan Machinery during the 4th quarter worth $413,000. Finally, Invenomic Capital Management LP purchased a new stake in Titan Machinery during the 4th quarter worth $2,208,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

About Titan Machinery

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.