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Titan Machinery (TITN) Gains As Market Dips: What You Should Know

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In the latest trading session, Titan Machinery (TITN - Free Report) closed at $30.62, marking a +0.23% move from the previous day. This change outpaced the S&P 500's 0.72% loss on the day. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 0.67%.

Heading into today, shares of the agriculture and construction equipment seller had lost 1.16% over the past month, outpacing the Retail-Wholesale sector's loss of 4.26% and the S&P 500's loss of 5.92% 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 $0.58 per share, which would represent year-over-year growth of 152.17%. Meanwhile, our latest consensus estimate is calling for revenue of $556.4 million, up 27.42% from the prior-year quarter.

Investors should also note any recent changes to analyst estimates for Titan Machinery. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Titan Machinery is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Titan Machinery is currently trading at a Forward P/E ratio of 10.65. Its industry sports an average Forward P/E of 7.09, so we one might conclude that Titan Machinery is trading at a premium comparatively.

The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 8, which puts it in the top 4% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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