Stock of the Day – Update
Titan Machinery Inc. (TITN)
Friday’s Closing Price: TITN – $22.40
Titan Machinery Inc., which runs construction and agriculture equipment store,s raised its full-year guidance for revenue and earnings per share earlier this week. Its fiscal second-quarter profit more than doubled as all three of the company’s businesses posted revenue growth. Net income for the three months ended July 31 jumped to $3.3 million from $1.4 million a year earlier and revenue surged to $134.9 million from $85.8 million.
The stock has been holding up rather well despite the weakness in the current market (Thursday aside). Its relative strength rating is within the top 1-2% of all stocks trading and the EPS rating is in the top 1% of all stocks trading. Overall, TITN is a stock that I wouldn’t mind adding shares here at the long term moving average. Disclosure: I do own shares at this time.
Past (TITN) Titan Machinery Inc. Blog Posts
- 6/24/08: Money Makers: IPI and TITN
I have been away for the past few days but IPI and TITN continue to make new highs. The two stocks are up 49% and 69% respectively.
- 6/2/08: Top Rated Stocks
“TITN – 24.30, Titan Machinery Inc. is still making new all-time highs but did run into some selling pressure near the $26 level. The trend is higher and I am holding until told otherwise by the charts.”
- 5/19/08: Portfolio Stocks on the Move
- 4/25/08: Portfolio Snapshot: Growth
- 4/29/08: Young Stocks Moving on Volume
- 4/21/08: Titan Machinery (TITN)
Potential Trade Set-up:
Entry: $21.00
Risk is set at 1.0% of total portfolio or $1,000 of $100k
Stop Loss is 10% or $18.90
Number of Shares: 476
Position Size is $10,000
Risk is $2.10
Target is unknown (too little information) - 2/25/08: Stocks Catching my Eye – TITN: $19.70
“MTL is no longer a buy since it has become extended but TITN and RIO may be setting up for new 52-week highs.”
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