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Bull of the Day: Titan Machinery (TITN)
The market is starting to butt its head against some resistance here. As sellers enter, there are some stocks that are really taking a punch. How do you know if your stocks are going to ever turn around? Like somebody asked me earlier today, which dip is the one to buy?
One way to gain more confidence is by adding stocks which have strong earnings trends. While stock prices are among the most fickle things on Earth, earnings tend to trend more consistently. Find a stock with a powerful earnings trend and you’ll have a winner in the long-run, regardless of short-term pressures the market should hand you. It’s a great way to sleep at night.
Image Source: Zacks Investment Research
The Zacks Rank uncovers these stocks for you. That’s why I have Titan Machinery (TITN - Free Report) as my Bull of the Day. Titan Machinery Inc. owns and operates a network of full-service agricultural and construction equipment stores in the United States and Europe. It operates through three segments: Agriculture, Construction, and International.
The reason for the favorable Zacks Rank is analysts coming out and increasing their earnings estimates for both the current year and next year. Over the last quarter, current year Zacks Consensus Estimate is up from $3.52 to $4.38 while next year’s number is up from $3.79 to $4.35. That is partly due to analysts playing a bit of catchup. Over the last year, the company has beat earnings expectations by an average of 44 cents each quarter. The last time the company missed earnings was November 2019.