Titan Machinery (TITN) Dips More Than Broader Markets: What You Should Know
Titan Machinery (TITN) closed at $43.58 in the latest trading session, marking a -1.63% move from the prior day. This change lagged the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, added 3.16%.
Prior to today's trading, shares of the agriculture and construction equipment seller had gained 3.26% over the past month. This has outpaced the Retail-Wholesale sector's gain of 0.38% and lagged the S&P 500's gain of 3.6% in that time.
Wall Street will be looking for positivity from Titan Machinery as it approaches its next earnings report date. The company is expected to report EPS of $1.07, up 8.08% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $690.76 million, up 36.08% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Titan Machinery. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Titan Machinery is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Titan Machinery is currently trading at a Forward P/E ratio of 9.38. This valuation marks a premium compared to its industry's average Forward P/E of 8.23.
The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 216, putting it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TITN in the coming trading sessions, be sure to utilize Zacks.com.
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Titan Machinery Inc. (TITN) : Free Stock Analysis Report
