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

Titan Machinery Inc. (NASDAQ:TITN) saw 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. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 182,000 shares, the short-interest ratio is presently 2.8 days.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TITN shares. TheStreet lowered Titan Machinery from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of Titan Machinery in a research report on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Titan Machinery in the 3rd quarter valued at approximately $247,000. Voss Capital LLC purchased a new position in shares of Titan Machinery in the 3rd quarter valued at approximately $4,173,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Titan Machinery by 3.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,252 shares of the company’s stock valued at $432,000 after purchasing an additional 469 shares during the last quarter. BluePath Capital Management LLC purchased a new position in shares of Titan Machinery in the 3rd quarter valued at approximately $242,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Titan Machinery by 9.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 377,303 shares of the company’s stock valued at $10,029,000 after purchasing an additional 32,331 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Stock Up 0.4 %

Shares of NASDAQ TITN traded up $0.09 during midday trading on Friday, hitting $22.70. 78,276 shares of the company’s stock were exchanged, compared to its average volume of 160,364. The company has a market cap of $518.01 million, a PE ratio of 4.60 and a beta of 1.41. Titan Machinery has a twelve month low of $21.44 and a twelve month high of $35.88. The firm’s fifty day simple moving average is $24.50 and its 200-day simple moving average is $25.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.32 and a quick ratio of 0.19.

Titan Machinery (NASDAQ:TITN) last released its quarterly 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 company had revenue of $852.10 million for the quarter, compared to analyst estimates of $734.99 million. Titan Machinery had a return on equity of 18.40% and a net margin of 4.08%. The firm’s revenue was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Research analysts predict that Titan Machinery will post 3.35 EPS for the current fiscal year.

About Titan Machinery

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.