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

Titan Machinery Inc. (NASDAQ:TITN) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 1,060,000 shares, a decline of 15.9% from the November 30th total of 1,260,000 shares. Based on an average daily trading volume, of 214,100 shares, the days-to-cover ratio is currently 5.0 days. Currently, 5.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

TITN has been the topic of a number of research reports. B. Riley dropped their price objective on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Northland Securities restated a “market perform” rating and set a $25.00 price target on shares of Titan Machinery in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.00.

Titan Machinery Stock Performance

Shares of Titan Machinery stock traded down $0.29 on Monday, reaching $13.58. The stock had a trading volume of 43,125 shares, compared to its average volume of 227,764. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The business’s 50-day moving average price is $14.61 and its two-hundred day moving average price is $14.88. The stock has a market cap of $314.05 million, a P/E ratio of 10.13 and a beta of 1.30. Titan Machinery has a fifty-two week low of $12.30 and a fifty-two week high of $29.29.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The firm had revenue of $679.80 million during the quarter, compared to analyst estimates of $675.30 million. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 EPS. On average, sell-side analysts forecast that Titan Machinery will post 0.05 EPS for the current year.

Institutional Trading of Titan Machinery

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new position in shares of Titan Machinery during the second quarter worth approximately $37,000. nVerses Capital LLC increased its position in Titan Machinery by 118.2% during the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $38,000 after acquiring an additional 1,300 shares during the period. Truvestments Capital LLC acquired a new position in Titan Machinery during the 3rd quarter valued at $41,000. US Bancorp DE boosted its holdings in Titan Machinery by 116.2% in the 3rd quarter. US Bancorp DE now owns 3,120 shares of the company’s stock valued at $43,000 after purchasing an additional 1,677 shares during the period. Finally, FMR LLC grew its position in Titan Machinery by 142.5% in the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after purchasing an additional 3,092 shares during 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.