Does Titan Machinery Inc. (TITN) Have Any Gas After Forming This Bullish Double Top?

June 16, 2018 - By Clifton Ray

Titan Machinery Inc. (NASDAQ:TITN) Logo

Investors sentiment decreased to 1.13 in Q1 2018. Its down 0.30, from 1.43 in 2017Q4. It dived, 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.
Tiaa Cref Investment Mngmt Limited Co, New York-based fund reported 166,473 shares. Parametric Port Associate Llc holds 0% or 60,016 shares in its portfolio. Great West Life Assurance Can has invested 0% in Titan Machinery Inc. (NASDAQ:TITN). 13,330 are held by Wedge Mgmt L Limited Partnership Nc. 2.29M are held by Fmr Ltd Liability. Barclays Public Ltd Co holds 0% of its portfolio in Titan Machinery Inc. (NASDAQ:TITN) for 7,827 shares. 46,977 were reported by Macquarie Grp Ltd. Ny State Common Retirement Fund has 63,324 shares for 0% of their portfolio. 17,183 are owned by Matarin Cap Mngmt Limited Liability Corporation. Alliancebernstein Lp holds 0% or 98,140 shares. Goldman Sachs reported 253,963 shares. Hennessy Advsr stated it has 198,700 shares. Metropolitan Life Ins holds 6,453 shares or 0% of its portfolio. Renaissance Tech Lc stated it has 381,700 shares. Jnba Advisors holds 425 shares or 0% of its portfolio.

Since January 3, 2018, it had 1 insider purchase, and 2 insider sales for $1.35 million activity. Erickson Stan K. had bought 3,000 shares worth $54,180 on Friday, June 1. 2,374 shares were sold by Knutson Bryan J, worth $56,763.

The chart of Titan Machinery Inc. (TITN) shows a double top with $17.52 target or 4.00 % above today’s $16.85 share price. The 5 months chart pattern indicates low risk for the $365.21 million company. It was reported on Jun, 16 by Finviz.com. If the $17.52 price target is reached, the company will be worth $14.61 million more. Double tops are rare but powerful chart patterns.

The stock increased 0.90% or $0.15 during the last trading session, reaching $16.85. About 362,680 shares traded or 46.07% up from the average. Titan Machinery Inc. (NASDAQ:TITN) has risen 25.52% since June 16, 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 EPS, up 225.00 % or $0.09 from last year’s $-0.04 per share. TITN’s profit will be $1.08 million for 84.25 P/E if the $0.05 EPS becomes a reality. After $-0.07 actual EPS 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. The rating was maintained by Stephens on Thursday, March 29 with “Hold”. The firm has “Hold” rating by William Blair given on Wednesday, April 4. The company was maintained on Thursday, March 29 by Robert W. Baird. The rating was upgraded by William Blair to “Market Perform” on Tuesday, January 2.

More recent Titan Machinery Inc. (NASDAQ:TITN) news were published by: Globenewswire.com which released: “Titan Machinery Provides Advanced Precision Support with AgriSync” on May 18, 2018. Also Seekingalpha.com published the news titled: “More on Titan Machinery’s Q1 mixed results” on May 31, 2018. Nasdaq.com‘s news article titled: “Report: Exploring Fundamental Drivers Behind Titan Machinery, Kforce, Liberty Media, Daktronics, SPX, and Tallgrass …” with publication date: May 29, 2018 was also an interesting one.

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 $365.21 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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