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Titan Machinery Sees Large Volume Increase on Earnings

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ofspring   Friday, 05/29/15 02:40:57 PM
Re: None
Post # of 243 
Titan Machinery Sees Large Volume Increase on Earnings Beat (TITN)
Posted by mitch on May 29th, 2015 //

Titan Machinery logoShares of Titan Machinery (NASDAQ:TITN) saw unusually-high trading volume on Friday after the company announced better than expected quarterly earnings, Analyst RN reports. Approximately 243,601 shares traded hands during trading, an increase of 125% from the previous session’s volume of 108,214 shares.The stock last traded at $15.29 and had previously closed at $14.00.
The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.09. The company had revenue of $353.20 million for the quarter, compared to the consensus estimate of $355.24 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was down 24.1% on a year-over-year basis.
A number of research firms have recently commented on TITN. Analysts at Feltl & Co. upgraded shares of Titan Machinery from a “buy” rating to a “strong-buy” rating and set a $20.50 price target on the stock in a research note on Friday. Analysts at Zacks downgraded shares of Titan Machinery from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Analysts at TheStreet downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a research note on Wednesday, April 15th. Finally, analysts at Robert W. Baird reiterated a “hold” rating and set a $12.00 price target (up previously from $11.00) on shares of Titan Machinery in a research note on Thursday, April 16th.
The stock has a 50-day moving average of $13. and a 200-day moving average of $13.. The company’s market cap is $323.77 million.
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company operates in three segments: Agriculture, Construction and International. Within each segment, the Company has four principal sources of business activities, which include new and used equipment sales, parts sales, repair and maintenance service, and equipment rental and other business activities.

ANYTHING CAN HAPPEN TO YOUR INVESTMENTS PLEASE DO YOUR DD BEFORE INVESTING AND MAKE $$$$$$$
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