Titan Machinery (TITN) Outpaces Stock Market Gains: What You Should Know
Titan Machinery (TITN) closed at $31.72 in the latest trading session, marking a +0.63% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.19%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq lost 0.23%.
Prior to today's trading, shares of the agriculture and construction equipment seller had gained 25.93% over the past month. This has outpaced the Retail-Wholesale sector's gain of 12.89% and the S&P 500's gain of 11.37% in that time.
Wall Street will be looking for positivity from Titan Machinery as it approaches its next earnings report date. This is expected to be August 25, 2022. The company is expected to report EPS of $0.71, up 24.56% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $487.5 million, up 29.09% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.17 per share and revenue of $2.12 billion. These totals would mark changes of +6.38% and +23.81%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Titan Machinery. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Titan Machinery is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Titan Machinery is currently trading at a Forward P/E ratio of 9.96. This represents a premium compared to its industry's average Forward P/E of 5.52.
The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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