Is Titan Machinery Inc. (TITN)’s Fuel Running High? The Stock Formed Double Top Chart Pattern

May 21, 2018 - By Kurt Siggers

Titan Machinery Inc. (NASDAQ:TITN) Logo

Investors sentiment increased to 1.43 in 2017 Q4. Its up 0.08, from 1.35 in 2017Q3. It improved, as 12 investors sold Titan Machinery Inc. shares while 34 reduced holdings. 31 funds opened positions while 35 raised stakes. 16.91 million shares or 3.18% more from 16.39 million shares in 2017Q3 were reported.
Metropolitan Life Ins Com Ny invested 0% of its portfolio in Titan Machinery Inc. (NASDAQ:TITN). Wells Fargo Mn has invested 0% in Titan Machinery Inc. (NASDAQ:TITN). Group Inc One Trading Lp has 1,309 shares. 33,400 are held by Strs Ohio. Ameriprise Financial has invested 0% in Titan Machinery Inc. (NASDAQ:TITN). Meeder Asset Mgmt holds 49 shares or 0% of its portfolio. 379,447 are held by Renaissance Technology Llc. State Street Corp holds 338,439 shares. Jpmorgan Chase And Com invested in 1.19M shares or 0.01% of the stock. Fmr Limited Liability reported 2.38M shares. 28,640 were reported by Rmb Cap Lc. Granite Ptnrs Ltd Liability Corp has invested 0.16% of its portfolio in Titan Machinery Inc. (NASDAQ:TITN). Macquarie Group Incorporated Limited holds 35,977 shares or 0% of its portfolio. Smith Asset Mngmt Group Inc Limited Partnership stated it has 0% in Titan Machinery Inc. (NASDAQ:TITN). Morgan Stanley owns 359,153 shares or 0% of their US portfolio.

Since January 3, 2018, it had 0 insider buys, and 2 insider sales for $1.41 million activity. $1.35 million worth of Titan Machinery Inc. (NASDAQ:TITN) was sold by Meyer David Joseph.

The chart of Titan Machinery Inc. (TITN) shows a double top with $21.16 target or 5.00 % above today’s $20.15 share price. The 6 months chart pattern indicates low risk for the $436.73 million company. It was reported on May, 21 by Finviz.com. If the $21.16 price target is reached, the company will be worth $21.84M more. Double tops are rare but powerful chart patterns.

The stock increased 3.81% or $0.74 during the last trading session, reaching $20.15. About 262,543 shares traded or 35.73% up from the average. Titan Machinery Inc. (NASDAQ:TITN) has risen 42.88% since May 21, 2017 and is uptrending. It has outperformed by 31.33% the S&P500.

Analysts await Titan Machinery Inc. (NASDAQ:TITN) to report earnings on May, 24. They expect $-0.10 earnings per share, up 47.37 % or $0.09 from last year’s $-0.19 per share. After $-0.10 actual earnings per share reported by Titan Machinery Inc. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Titan Machinery Inc. (NASDAQ:TITN) Ratings Coverage

Among 5 analysts covering Titan Machinery Inc (NASDAQ:TITN), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. Titan Machinery Inc had 7 analyst reports since December 1, 2017 according to SRatingsIntel. The rating was maintained by Piper Jaffray with “Hold” on Thursday, November 30. The stock of Titan Machinery Inc. (NASDAQ:TITN) has “Market Perform” rating given on Tuesday, January 2 by William Blair. The stock has “Hold” rating by Stephens on Thursday, March 29. The firm has “Buy” rating given on Friday, December 1 by Robert W. Baird. The stock has “Buy” rating by Robert W. Baird on Thursday, March 29. On Wednesday, April 4 the stock rating was maintained by William Blair with “Hold”.

More recent Titan Machinery Inc. (NASDAQ:TITN) news were published by: Seekingalpha.com which released: “Titan Machinery announces expansion into Germany” on April 30, 2018. Also Nasdaq.com published the news titled: “Titan Machinery Inc. to Report Fiscal First Quarter Ended April 30, 2018 Results on May 31, 2018” on May 17, 2018. Globenewswire.com‘s news article titled: “Titan Machinery Provides Advanced Precision Support with AgriSync” with publication date: May 18, 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 $436.73 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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