Titan Machinery Inc. (NASDAQ:TITN) does about 236.17K shares in volume on a normal day but saw 260408 shares change hands in Friday trading. The company now has a market cap of 1.02B USD. Its current market price is $44.75, marking an increase of 2.50% compared to the previous close of $43.66. The 52 week high reached by this stock is $46.40 whilst the lowest price level in 52 weeks is $21.50. The script in recent trading has seen the stock touch a high of $45.65 and a low of $43.48.
Titan Machinery Inc. (TITN) has a 20-day trading average at $43.58 and the current price is -3.56% off the 52-week high compared with 108.19% distance from its 52-week low. The 50-day simple moving average of the closing price is $41.52 and its 200-day simple moving average is $32.20. If we look at the stock’s price movements over the week, volatility stands at 3.65%, which decreases to 3.59% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 59.61 to suggest the stock is neutral.
5 analysts observing the Titan Machinery Inc. (TITN) stock have set the 12-month price targets for the company’s shares at between $40.00 and $53.00. The consensus objective for the share price is $47.25, suggesting that the stock has a potential upside of 5.29% over the period. The median price target is 6.77% away from the current levels at $48.00.
FactSet Research has provided data showing that 5 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 4 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 13, 2022 when B. Riley Securities initiated the stock to “Buy” and issued a price target of $48. Robert W. Baird downgraded the stock to “Neutral” from Outperform on November 24, 2021 at a price target of $37-$41. Stephens upgraded its price target at $26-$40.
The current price level is 3.17%, 8.06%, and 39.43% away from its SMA20, SMA50, and SMA200 respectively, with the TITN price moving above the 50-day SMA on February 17. Titan Machinery Inc. (TITN) stock is up 3.85% over the week and 14.80% over the past month. Its price is 12.64% year-to-date and 41.84% over the past year.
The stock last released its quarterly earnings report for quarter ended 10/30/2022, with the company’s earnings per share (EPS) of $1.83 above consensus estimates by $0.67. The company’s next earnings report is expected on 05/25/2023, with forecasts estimating quarterly EPS at $1.13 and $4.88 for whole year. TITN’s earnings per share are forecast to grow by 63.80% this year and -2.30% over next year. Expected sales for next quarter are $569.37 million, which analysts say will come at $2.31 billion for the current fiscal year and next year at $2.56 billion. In addition, estimates put the company’s current quarterly revenue at an average of $684.35 million.
Its 12-month price target is $48.00. To reach the target analysts have set, the stock logically needs to grow 5.29 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $40.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $53.00.
Outstanding shares total 22.39M with insiders holding 11.14% of the shares and institutional holders owning 84.41% of the company’s common stock. The company has a return on investment of 10.50% and return on equity of 21.40%. The price to earnings ratio (P/E ratio) amounts to 9.55 while the forward price to earnings ratio is 9.39. The beta has a value of 1.67. Price to book ratio is 1.96 and price to sales ratio is 0.48.
Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by DFA US Small Cap Value Portfolio, which added 14613.0 shares to end up with 579,062 shares worth $25.44 million. iShares Russell 2000 ETF cut their holdings by -0.29% in the company over the course of the most recent quarter. It now holds a 1.98% position in Titan Machinery Inc. thanks to 0.45 million shares amounting to $19.8 million.
