Titan Machinery (TITN) Gains As Market Dips: What You Should Know
In the latest trading session, Titan Machinery (TITN) closed at $45.97, marking a +0.39% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.47%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq lost 15.51%.
Heading into today, shares of the agriculture and construction equipment seller had gained 4.21% over the past month, outpacing the Retail-Wholesale sector's loss of 6.43% and the S&P 500's loss of 2.53% in that time.
Titan Machinery will be looking to display strength as it nears its next earnings release. On that day, Titan Machinery is projected to report earnings of $1.07 per share, which would represent year-over-year growth of 8.08%. Meanwhile, our latest consensus estimate is calling for revenue of $690.76 million, up 36.08% from the prior-year quarter.
Any recent changes to analyst estimates for Titan Machinery should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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).
Investors should also note Titan Machinery's current valuation metrics, including its Forward P/E ratio of 9.69. This valuation marks a premium compared to its industry's average Forward P/E of 7.72.
The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Titan Machinery Inc. (TITN) : Free Stock Analysis Report
