Can Titan Machinery Inc. (TITN)’s Tomorrow be Different? The Stock Formed a Double Top

June 21, 2018 - By Nellie Frank

Titan Machinery Inc. (NASDAQ:TITN) Logo

Investors sentiment decreased to 1.13 in 2018 Q1. Its down 0.30, from 1.43 in 2017Q4. It turned negative, as 18 investors sold Titan Machinery Inc. shares while 36 reduced holdings. 22 funds opened positions while 39 raised stakes. 17.82 million shares or 5.42% more from 16.91 million shares in 2017Q4 were reported.
Geode Mngmt Ltd Company has invested 0% in Titan Machinery Inc. (NASDAQ:TITN). Bluecrest Cap Mgmt Limited invested in 0.01% or 8,539 shares. Voya Investment Mngmt Llc has invested 0% in Titan Machinery Inc. (NASDAQ:TITN). New York-based Stone Ridge Asset Mngmt Limited Com has invested 0.04% in Titan Machinery Inc. (NASDAQ:TITN). Renaissance Technologies Ltd Liability Corporation has 0.01% invested in Titan Machinery Inc. (NASDAQ:TITN). Timpani Cap Mngmt Limited Liability Company owns 0.32% invested in Titan Machinery Inc. (NASDAQ:TITN) for 38,488 shares. California Public Employees Retirement Systems invested in 0% or 43,057 shares. Matarin Capital Management Ltd Limited Liability Company has invested 0% in Titan Machinery Inc. (NASDAQ:TITN). Moreover, Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Management has 0.01% invested in Titan Machinery Inc. (NASDAQ:TITN) for 34,600 shares. American Interest Inc holds 12,014 shares or 0% of its portfolio. The Massachusetts-based Rutabaga Cap Mgmt Ltd Liability Corporation Ma has invested 1.56% in Titan Machinery Inc. (NASDAQ:TITN). Weber Alan W reported 0.15% stake. Northern Trust Corp reported 220,404 shares or 0% of all its holdings. Barclays Public Ltd Com reported 0% of its portfolio in Titan Machinery Inc. (NASDAQ:TITN). Prudential holds 0% in Titan Machinery Inc. (NASDAQ:TITN) or 60,479 shares.

Since January 3, 2018, it had 1 buy, and 2 sales for $1.35 million activity. Shares for $54,180 were bought by Erickson Stan K. on Friday, June 1. 2,374 Titan Machinery Inc. (NASDAQ:TITN) shares with value of $56,763 were sold by Knutson Bryan J.

The chart of Titan Machinery Inc. (TITN) shows a double top with $17.69 target or 7.00 % above today’s $16.53 share price. The 8 months chart pattern indicates low risk for the $358.27 million company. It was reported on Jun, 21 by Finviz.com. If the $17.69 price target is reached, the company will be worth $25.08M more. Double tops are rare but powerful chart patterns.

The stock decreased 3.39% or $0.58 during the last trading session, reaching $16.53. About 111,139 shares traded. Titan Machinery Inc. (NASDAQ:TITN) has risen 25.52% since June 21, 2017 and is uptrending. It has outperformed by 12.95% the S&P500.

Analysts await Titan Machinery Inc. (NASDAQ:TITN) to report earnings on August, 30. They expect $0.05 earnings per share, up 225.00 % or $0.09 from last year’s $-0.04 per share. TITN’s profit will be $1.08M for 82.65 P/E if the $0.05 EPS becomes a reality. After $-0.07 actual earnings per share reported by Titan Machinery Inc. for the previous quarter, Wall Street now forecasts -171.43 % EPS growth.

Titan Machinery Inc. (NASDAQ:TITN) Ratings Coverage

Among 4 analysts covering Titan Machinery (NASDAQ:TITN), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Titan Machinery had 5 analyst reports since January 2, 2018 according to SRatingsIntel. On Thursday, March 29 the stock rating was maintained by Stephens with “Hold”. The rating was upgraded by William Blair on Tuesday, January 2 to “Market Perform”. The firm earned “Buy” rating on Thursday, March 29 by Robert W. Baird. The company was maintained on Wednesday, April 4 by William Blair.

More news for Titan Machinery Inc. (NASDAQ:TITN) were recently published by: Streetinsider.com, which released: “Titan Machinery (TITN) Tops Q1 EPS by 1c, Revenues Miss” on May 31, 2018. Nasdaq.com‘s article titled: “Report: Exploring Fundamental Drivers Behind Titan Machinery, Kforce, Liberty Media, Daktronics, SPX, and Tallgrass …” and published on May 29, 2018 is yet another important article.

Titan Machinery Inc. owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. The company has market cap of $358.27 million. It operates through three divisions: Agriculture, Construction, and International. It currently has negative earnings. The firm sells new and used equipment comprising agricultural and construction equipment manufactured under the CNH family of brands, as well as equipment from various other manufacturers.

Titan Machinery Inc. (NASDAQ:TITN) Institutional Positions Chart

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