Titan Machinery (NASDAQ:TITN) released its quarterly earnings results on Thursday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.04, Bloomberg Earnings reports. Titan Machinery had a negative return on equity of 0.89% and a negative net margin of 0.59%. The firm had revenue of $339.61 million for the quarter, compared to the consensus estimate of $315.08 million. During the same quarter last year, the business posted ($0.31) EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis.
Shares of NASDAQ TITN opened at $23.56 on Friday. The stock has a market capitalization of $520.55, a PE ratio of -196.33 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 0.33. Titan Machinery has a fifty-two week low of $11.68 and a fifty-two week high of $25.09.
In other news, CEO David Joseph Meyer sold 61,796 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total value of $1,350,242.60. Following the completion of the transaction, the chief executive officer now owns 715,864 shares in the company, valued at approximately $15,641,628.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.08% of the stock is owned by company insiders.
Several analysts have issued reports on TITN shares. BidaskClub raised Titan Machinery from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Zacks Investment Research downgraded Titan Machinery from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Robert W. Baird set a $26.00 price target on Titan Machinery and gave the company a “buy” rating in a research note on Thursday. William Blair raised Titan Machinery from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. Finally, Craig Hallum reissued a “buy” rating and issued a $26.00 price target on shares of Titan Machinery in a research note on Thursday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Titan Machinery has a consensus rating of “Hold” and a consensus price target of $24.00.
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About Titan Machinery
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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