TITN - Titan Machinery: Cheap Enough

2024-03-18 17:25:55 ET

Summary

• Titan Machinery Inc. earnings have improved, reducing valuation multiples and making the stock look cheap.
• The company has made strategic acquisitions to expand its business and increase sales and earnings.
• Despite some challenges, Titan Machinery's current earnings power and management's actions are expected to drive long-term performance.

It was the summer of 2022 when I concluded that Titan Machinery Inc. ( TITN ) was adding some assets at a good point in the cycle. Titan was already posting solid earnings at a time when I feared a long-term normalization of margins, but instead margins have only improved further, reducing valuation multiples along the way....

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