Titan Machinery Inc. (NASDAQ:TITN) Short Interest Update

Titan Machinery Inc. (NASDAQ:TITN) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totalling 508,800 shares, a drop of 30.0% from the March 31st total of 726,600 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily volume of 182,000 shares, the days-to-cover ratio is currently 2.8 days.

Titan Machinery Stock Up 0.4 %

Shares of Titan Machinery stock traded up $0.09 during midday trading on Friday, hitting $22.70. The company’s stock had a trading volume of 78,276 shares, compared to its average volume of 160,364. The firm has a market capitalization of $518.01 million, a P/E ratio of 4.60 and a beta of 1.41. The stock has a 50-day simple moving average of $24.50 and a 200-day simple moving average of $25.73. The company has a quick ratio of 0.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.16. Titan Machinery has a 1-year low of $21.44 and a 1-year high of $35.88.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, March 21st. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. The business had revenue of $852.10 million during the quarter, compared to analysts’ expectations of $734.99 million. Titan Machinery had a return on equity of 18.40% and a net margin of 4.08%. Titan Machinery’s revenue was up 46.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. As a group, sell-side analysts expect that Titan Machinery will post 3.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TITN has been the subject of a number of research reports. TheStreet lowered Titan Machinery from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Stephens reissued an “overweight” rating and set a $42.00 price objective on shares of Titan Machinery in a research note on Friday, January 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

Institutional Trading of Titan Machinery

Several hedge funds and other institutional investors have recently modified their holdings of TITN. American Century Companies Inc. boosted its position in shares of Titan Machinery by 241.0% in the third quarter. American Century Companies Inc. now owns 721,521 shares of the company’s stock worth $19,178,000 after buying an additional 509,919 shares during the period. Voss Capital LLC purchased a new stake in shares of Titan Machinery during the third quarter worth $4,173,000. Global Alpha Capital Management Ltd. raised its holdings in shares of Titan Machinery by 9.2% during the third quarter. Global Alpha Capital Management Ltd. now owns 969,218 shares of the company’s stock worth $25,762,000 after acquiring an additional 82,000 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Titan Machinery during the fourth quarter worth $1,620,000. Finally, Smith Graham & Co. Investment Advisors LP raised its holdings in shares of Titan Machinery by 20.3% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 286,708 shares of the company’s stock worth $8,280,000 after acquiring an additional 48,438 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.