Titan Machinery (TITN): Price defines bullish 'flag' pattern

Filed under: Earnings reports, Technical Analysis, Deere and Co (DE), Stocks to Buy

Titan Machinery (NASDAQ: TITN) owns and operates one of the largest networks of full service agricultural and construction equipment stores in North America. The chain includes 48 dealerships in North Dakota, South Dakota, Minnesota, Iowa and Nebraska, each representing one or more of the CNH Global (NYSE: CNH) equipment brands. The firm sells new equipment, rents a range of machines and provides parts and repair services. Deere & Company (NYSE: DE) is a major competitor.

The company pleased investors earlier in the week, when it reported fiscal Q1 EPS of 24 cents and revenues of $152.6 million. Analysts had been looking for 13 cents and $119.6 million. Management also guided FY09 EPS to 86-91 cents (79 cent consensus) and FY09 revenues to $575-$625 million ($588.55M consensus). The CEO cited a strong agriculture economy and solid demand for large agricultural equipment in support of the favorable outlook.

Continue reading Titan Machinery (TITN): Price defines bullish 'flag' pattern

Permalink | Email this | Comments

<map name="google_ad_map_145-1230443"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1230443?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map>