Titan Machinery Inc. (NASDAQ: NASDAQ:TITN) has experienced a downgrade in its stock rating by Northland. The firm shifted its stance from "Outperform" to "Market Perform".
The banking form also reduced the price target significantly to $15.00 from the previous $33.00.
This adjustment comes in response to the company's recent preannouncement of its second-quarter 2025 results and a revision of its full-year 2025 guidance.
Titan Machinery disclosed a weaker-than-expected equipment demand as the primary reason for the shortfall in its performance.
The company is scheduled to release detailed financial results for the second quarter of 2025 on Thursday, August 29, 2024. Additionally, an investor call is planned for the same day at 8:30 AM Eastern Time to discuss the quarterly outcomes.
In light of the recent preannouncement, Northland has revised its financial forecast for Titan Machinery to reflect the lower end of the company's updated guidance.
The firm indicated that it would reconsider its rating for the company once there is evidence that original equipment manufacturer (OEM) production and dealer inventories are better aligned with the actual market demand for equipment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.