Titan Machinery Inc. (TITN) Stock Faces Lower Risks Forward After Forming Bullish Double Top Pattern

June 21, 2018 - By Peter Erickson

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 fall, 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.
Stone Ridge Asset Limited Co invested in 0.04% or 31,782 shares. Moreover, Kames Cap Public Ltd Liability Corporation has 0.05% invested in Titan Machinery Inc. (NASDAQ:TITN). Jpmorgan Chase & holds 1.14M shares or 0.01% of its portfolio. Us Natl Bank De holds 1,711 shares or 0% of its portfolio. Moreover, Jacobs Levy Equity has 0.03% invested in Titan Machinery Inc. (NASDAQ:TITN) for 68,016 shares. Utd Service Automobile Association invested in 213,094 shares. Amg National Trust National Bank & Trust reported 40,367 shares. The California-based First Republic Investment Mngmt Inc has invested 0% in Titan Machinery Inc. (NASDAQ:TITN). Ny State Common Retirement Fund reported 63,324 shares. Moreover, Sei Invests has 0% invested in Titan Machinery Inc. (NASDAQ:TITN). The Massachusetts-based State Street Corporation has invested 0% in Titan Machinery Inc. (NASDAQ:TITN). Strs Ohio invested in 34,800 shares or 0% of the stock. Connecticut-based Ellington Management Gp Llc has invested 0.02% in Titan Machinery Inc. (NASDAQ:TITN). Global X Mgmt Ltd Liability Co holds 0.01% in Titan Machinery Inc. (NASDAQ:TITN) or 13,415 shares. Moreover, Northern Tru has 0% invested in Titan Machinery Inc. (NASDAQ:TITN) for 220,404 shares.

Since January 3, 2018, it had 1 insider purchase, and 2 selling transactions for $1.35 million activity. $54,180 worth of Titan Machinery Inc. (NASDAQ:TITN) was bought by Erickson Stan K. on Friday, June 1. 61,796 shares were sold by Meyer David Joseph, worth $1.35 million.

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 EPS, up 225.00 % or $0.09 from last year’s $-0.04 per share. TITN’s profit will be $1.08 million for 82.65 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. William Blair upgraded the stock to “Market Perform” rating in Tuesday, January 2 report. The stock of Titan Machinery Inc. (NASDAQ:TITN) earned “Buy” rating by Robert W. Baird on Thursday, March 29. The rating was maintained by William Blair on Wednesday, April 4 with “Hold”. The rating was maintained by Stephens with “Hold” on Thursday, March 29.

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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